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Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.
- a)Rs.2220
- b)Rs.120
- c)Rs.2720
- d)Rs.720
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock...
Since the face value of the stock is not given, we can take it as Rs.100
it is an 8% stock. ie, dividend per stock = Rs.8
Total investment = Rs.32400
Market Value = Rs.90
Amount of stock she purchased = (32400×100)/90 = Rs.36000
Number of shares she purchased = 32400/90 = 360
Total income = 360 × 8 = Rs.2880
She sold out Rs. 18000 stock when the price was Rs.95
Amount received by selling Rs.18000 stock at Rs.95 = (18000×95)/100 = Rs.17100
Amount received by selling remaining Rs.18000 stock at Rs.98 = (18000×98)/100 = Rs.17640
Total amount received = Rs. (17100 + 17640) = Rs. 34740
This Rs.34740 is invested in 10% stock at 96½
Number of shares = 34740*(193/2) = 360
Total income from these stocks = 360 × 10 = Rs.3600
Change in income = Rs.3600 - Rs.2880 = Rs.720
it is an 8% stock. ie, dividend per stock = Rs.8
Total investment = Rs.32400
Market Value = Rs.90
Amount of stock she purchased = (32400×100)/90 = Rs.36000
Number of shares she purchased = 32400/90 = 360
Total income = 360 × 8 = Rs.2880
She sold out Rs. 18000 stock when the price was Rs.95
Amount received by selling Rs.18000 stock at Rs.95 = (18000×95)/100 = Rs.17100
Amount received by selling remaining Rs.18000 stock at Rs.98 = (18000×98)/100 = Rs.17640
Total amount received = Rs. (17100 + 17640) = Rs. 34740
This Rs.34740 is invested in 10% stock at 96½
Number of shares = 34740*(193/2) = 360
Total income from these stocks = 360 × 10 = Rs.3600
Change in income = Rs.3600 - Rs.2880 = Rs.720
Most Upvoted Answer
Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock...
To find out the total sale proceeds from selling the stock at Rs. 95 and Rs. 98, we first need to calculate the number of stocks Anu bought initially.
Let the face value of each stock be Rs. 100 (since the stock is bought at 90, which is 10% less than the face value).
Therefore, the number of stocks Anu bought initially = Rs. 32400 / Rs. 90 = 360 stocks.
Anu sold Rs. 18000 worth of stock when the price rose to Rs. 95.
Number of stocks sold = Rs. 18000 / Rs. 95 = 189.47 stocks (approximated to 2 decimal places).
Anu sold the remaining stocks at Rs. 98.
Number of remaining stocks = 360 - 189.47 = 170.53 stocks (approximated to 2 decimal places).
Total sale proceeds = (189.47 * Rs. 95) + (170.53 * Rs. 98).
Total sale proceeds = Rs. 18000 + Rs. 16708.94 = Rs. 34708.94.
Anu invested the total sale proceeds in a 10% stock at Rs. 96.
Therefore, the number of stocks bought with the sale proceeds = Rs. 34708.94 / Rs. 96.
Number of stocks bought = 361.35 stocks (approximated to 2 decimal places).
Note: Since the number of stocks can only be an integer, it would be best to check whether the number of stocks should be rounded up or down based on the fractional part.
Let the face value of each stock be Rs. 100 (since the stock is bought at 90, which is 10% less than the face value).
Therefore, the number of stocks Anu bought initially = Rs. 32400 / Rs. 90 = 360 stocks.
Anu sold Rs. 18000 worth of stock when the price rose to Rs. 95.
Number of stocks sold = Rs. 18000 / Rs. 95 = 189.47 stocks (approximated to 2 decimal places).
Anu sold the remaining stocks at Rs. 98.
Number of remaining stocks = 360 - 189.47 = 170.53 stocks (approximated to 2 decimal places).
Total sale proceeds = (189.47 * Rs. 95) + (170.53 * Rs. 98).
Total sale proceeds = Rs. 18000 + Rs. 16708.94 = Rs. 34708.94.
Anu invested the total sale proceeds in a 10% stock at Rs. 96.
Therefore, the number of stocks bought with the sale proceeds = Rs. 34708.94 / Rs. 96.
Number of stocks bought = 361.35 stocks (approximated to 2 decimal places).
Note: Since the number of stocks can only be an integer, it would be best to check whether the number of stocks should be rounded up or down based on the fractional part.
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Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer?
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Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer? for LR 2024 is part of LR preparation. The Question and answers have been prepared according to the LR exam syllabus. Information about Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for LR 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer?.
Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer? for LR 2024 is part of LR preparation. The Question and answers have been prepared according to the LR exam syllabus. Information about Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for LR 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer?.
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Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Anu invested Rs. 32400 in 8% stock at 90. She sold out Rs. 18000 stock when the price rose to Rs 95 and the remaining stock at Rs.98. She invested the total sale proceeds in 10% stock at 96½. Find the change in income of Anu.a)Rs.2220b)Rs.120c)Rs.2720d)Rs.720Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice LR tests.
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