A man invest some money party in 3% stock at 96 and party in 4% stock at 120. To get equal dividend from both, he must invest the money in the ratio?
Correct Answer: 16 : 15
Explanation:
For an income of Re. 1 in 3% stock, investment = Rs. (96 / 3) = Rs. 32
For an income of Re. 1. in 4% stock investment = Rs. (120 / 4) = Rs. 30
∴ Ratio of investment = 32 : 30 = 16 : 15
