A man bought 20 shares of Rs. 50 at 5 discount, the rate of dividend being 13\(\

Question

A man bought 20 shares of Rs. 50 at 5 discount, the rate of dividend being 13\(\frac{1}{2}\)The rate of interest obtained is:

Options:

A . \(12\frac{1}{2}\) %

B . \(13\frac{1}{2}\) %

C . 15%

D . \(16\frac{2}{3}\)%

Answer: Option C

Investment = Rs. [20 x (50 - 5)] = Rs. 900.

Face value = Rs. (50 x 20) = Rs. 1000.

Dividend = Rs. \(\left(\frac{27}{2}\times\frac{1000}{100}\right)= Rs.135.\)

Interest obtained = \(\left(\frac{135}{900}\times100\right)\) % =15%

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