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What is the correct answer?
4
By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at:
A.
Rs. 80
B.
Rs. 96
C.
Rs. 106
D.
Rs. 108
Correct Answer :
B. Rs. 96
To earn Rs. 135, investment = Rs. 1620.
To earn Rs. 8, investment =
R
s
.
1620
135
x
8
=
R
s
.
96
.
∴
Market value of Rs. 100 stock = Rs. 96.
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