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ML Aggarwal Solutions Class 10 Mathematics Solutions for Shares and Dividends Exercise 3 in Chapter 3 - Shares and Dividends
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A man bought 360 ten-rupee shares paying 12% per annum. He sold them when the price rose to Rs. 21 and invested the proceeds in five-rupee shares paying 4 ½ % per annum at Rs. 3.5 per share. Find the annual change in his income.
Given No. of shares bought = 360
Face value of each share = Rs. 10
Rate of dividend = 12%
Total face value of 360 shares = Rs. 10 x 360 = Rs. 3600
Yearly dividend = (3600 x 12)/100 = Rs 432
On selling the share at Rs 21, the amount received = 21 x 360 = Rs 7560
Face value of new shares = Rs 5
Market value = Rs 3.5
Rate of dividend = 4 ½ % = 9/2 %
Number of shares purchased = 7560/3.5 = (7560 x 10)/35 = 2160
Face value of 2160 shares = 5 x 2160 = Rs 10800
Dividend = (10800 x 9)/ (100 x 2) = Rs 486
Change in income = 486 – 432 = Rs 54 gain.
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