A man invested Rs. 4455 in Rs. 10 shares quoted at Rs. 8.25. If the rate of dividend be 12%, his annual income is:

Number of shares =  $\frac{4455}{8.25}$= 540.

Face value = Rs. (540 x 10) = Rs. 5400.

Annual income =  $Rs.\frac{12}{100}*5400$ = Rs. 648.