A man invests ₹ 24000 on ₹ 60 shares at a discount of 20%. If the dividend declared by the company is 10%, then his annual income is ______.

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A man invests ₹ 24000 on ₹ 60 shares at a discount of 20%. If the dividend declared by the company is 10%, then his annual income is ₹ 3000. Explanation: Investment = ₹ 24000 F.V. of each share = ₹ 60 M.V. at discount of 20% = 60 xx (80)/(100) = ₹ 48 Rate of dividend = 10% ∴ Face value of all the share = (500 xx 60)/(48) = ₹ 30000 Annual dividend = ₹ (30000 xx 10)/(100) = ₹ 3000

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