David invests ₹ 9600 in a company paying 8% dividend p.a., when a share of face value of 100 stands at ₹ 120. His annual income is ______.

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David invests ₹ 9600 in a company paying 8% dividend p.a., when a share of face value of 100 stands at ₹ 120. His annual income is ₹ 640. Explanation: Given: Investment = ₹ 9600 Face value per share = ₹ 100 Market price per share = ₹ 120 Dividend = 8% per annum Number of shares = $\frac{3600}{120}$ = 80 Dividend per share = 8% of ₹ 100 = ₹ 8 Income = 80 $\times$ ₹ 8 = ₹ 640

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