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In order to obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of
- a)Rs. 3100
- b)Rs. 6500
- c)Rs. 6240
- d)Rs. 9600
Correct answer is option 'C'. Can you explain this answer?
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In order to obtain an income of Rs. 650 from 10% stock at Rs. 96, one ...
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Calculation:
Given income from the stock = Rs. 650
Rate of stock = 10%
Price of stock = Rs. 96
Step 1: Calculate the dividend received from the stock:
Dividend = (Rate of stock / 100) * Price of stock
Dividend = (10 / 100) * 96
Dividend = 9.6
Step 2: Calculate the investment required:
To obtain an income of Rs. 650, the investment required can be calculated using the formula:
Investment = (Income / Dividend) * Price of stock
Investment = (650 / 9.6) * 96
Investment = 67.708 * 96
Investment ≈ 6500
Therefore, the investment required to obtain an income of Rs. 650 from a 10% stock at Rs. 96 is Rs. 6500. Hence, option C is the correct answer.
Given income from the stock = Rs. 650
Rate of stock = 10%
Price of stock = Rs. 96
Step 1: Calculate the dividend received from the stock:
Dividend = (Rate of stock / 100) * Price of stock
Dividend = (10 / 100) * 96
Dividend = 9.6
Step 2: Calculate the investment required:
To obtain an income of Rs. 650, the investment required can be calculated using the formula:
Investment = (Income / Dividend) * Price of stock
Investment = (650 / 9.6) * 96
Investment = 67.708 * 96
Investment ≈ 6500
Therefore, the investment required to obtain an income of Rs. 650 from a 10% stock at Rs. 96 is Rs. 6500. Hence, option C is the correct answer.
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In order to obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment ofa)Rs. 3100b)Rs. 6500c)Rs. 6240d)Rs. 9600Correct answer is option 'C'. Can you explain this answer?
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