By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at: Options: A . &nbspRs. 80 B . &nbspRs. 96 C . &nbspRs. 106 D . &nbspRs. 108

By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quot

Question

By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at:

Options:

A . Rs. 80

B . Rs. 96

C . Rs. 106

D . Rs. 108

Answer: Option B

To earn Rs. 135, investment = Rs. 1620.

To earn Rs. 8, investment = Rs. $\left(\frac{1620}{135}\times8\right)$ = Rs.96.

Therefore Market value of Rs. 100 stock = Rs. 96.

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