a man invested rs 45000 in 15 dividend RS 100 shares quoted

a man invested rs 45000 in 15% dividend RS 100 shares quoted at RS 125 when the market value of these shares rose to RS 140 , he sold some shares just enough to raise RS 8400. calculate no of shares he still holds and find dividend due to him on remaining shares

Solution

The man invested INR 45000 in 15% dividend INR 100 shares priced at INR 125. The number of shares that he buys is 45000/125 = 360. When the price rises to INR 140, shares worth INR 8400 are sold. The number of shares sold is 60. The number of shares left with the man is 360 - 60 = 300. The dividend due on the shares is 300*15 = 4500

After the shares are sold, the man has 300 shares left and the dividend due is INR 4500.