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Jatin invested $ 27260 in buying $ 100 shares of a company at $ 116 each. If the company paid 16% dividend at the end of the year, find his income from the dividend.
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- $ 3560
- $ 2760
- $ 3760
- $ 3660
Correct Option: C
Given that :- Face value = $ 116 each
Total investment by Jatin = $ 27260
| Number of shares purchased by Jatin = | Total investment |
| Face value |
| Number of shares purchased by Jatin = | 27260 | = 235 | . |
| 116 |
Face value of 235 shares = $ (235 × 100) = $ 23500.
∴ Annual income from 235 shares = 16% x Face value of 235 shares
Annual income from 235 shares = 16% of $ 23500
| Annual income from 235 shares = $ |  | 16 | x 23500 |  | = $ 3760 |
| 100 |
