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Stocks and Shares
By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at:
Rs. 80
Rs. 96
Rs. 106
Rs. 108
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Correct Answer:
Rs. 96
Explanation:
To earn Rs. 135, investment = Rs. 1620.
To earn Rs. 8, investment = Rs.
❨
1620
x 8
❩
= Rs. 96.
135
∴ Market value of Rs. 100 stock = Rs. 96.
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