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

Option :

Explanation:

Solution:
$\begin{array}{rl}& \text{To}\phantom{\rule{thinmathspace}{0ex}}\text{earn}\phantom{\rule{thinmathspace}{0ex}}\text{Rs}\text{.}\phantom{\rule{thinmathspace}{0ex}}\text{135,investment}=Rs.\phantom{\rule{thinmathspace}{0ex}}1620.\\ & \text{To}\phantom{\rule{thinmathspace}{0ex}}\text{earn}\phantom{\rule{thinmathspace}{0ex}}\text{Rs}\text{.}\phantom{\rule{thinmathspace}{0ex}}\text{8,}\phantom{\rule{thinmathspace}{0ex}}\text{investment}=\\ & Rs.\phantom{\rule{thinmathspace}{0ex}}\left(\frac{1620}{135}×8\right)=Rs.\phantom{\rule{thinmathspace}{0ex}}96.\\ & \therefore \text{Market}\phantom{\rule{thinmathspace}{0ex}}\text{value}\phantom{\rule{thinmathspace}{0ex}}\text{of}\phantom{\rule{thinmathspace}{0ex}}\text{Rs}\text{.}\phantom{\rule{thinmathspace}{0ex}}\text{100}\phantom{\rule{thinmathspace}{0ex}}\text{stock}\\ & =Rs.\phantom{\rule{thinmathspace}{0ex}}96.\end{array}$