Find the annual income derived by investing Rs. 770 in 41/2%

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Find the annual income derived by investing Rs. 770 in 4¹/₂% stock at 96 ? (Brokerage 1 / 4%)

1. Rs. 56
2. Rs. 46
3. Rs. 39
4. Rs. 36

Correct Option: D

96 = (770 x 9/2) / (Ans - 1/4)
or Ans = (770 x 9/2) / (96 + 1/4)
Ans = Rs. 36