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Find the income on 71/2% stock of $ 20000 purchased at $ 120.
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- $ 1550
- $ 1450
- $ 1500
- $ 1600
Correct Option: C
Here , Face value of the stock = $ 20000
| Income on $ 100 stock = $ 7 | = $ | 2 | 2 |
| Income on $ 1 stock = $ |  | 15 / 2 |  | = $ | | 15 | |
| 100 | 200 |
Required Income on $ 20000 = Income on $ 1 stock x Face value of the stock
| Income on $ 20000 stock = $ | | 15 | x 20000 | | = $ 1500 |
| 200 |
