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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 = Rs. 1620135 x 8 = Rs. 96.
∴Market value of Rs. 100 stock = Rs. 96.
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