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Find the income on 12% stock of $ 60000 purchased at $ 110.
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- $ 7200
- $ 7500
- $ 7400
- $ 8200
Correct Option: A
Given that :- Face value of the stock = $ 60000
∵ Income on $ 100 stock = $ 12
| ∴ Income on $ 1 stock = $ |  | 12 |  |
| 100 |
Required Income on $ 60000 = Income on $ 1 stock x Face value of the stock
| Required Income on $ 60000 = $ | | 12 | x 60000 |  | = $ 7200 |
| 100 |
