Question 20

Ram got Rs. 1,500 as dividend from a company. What is the rate of interest given by the company?
(I) The dividend paid last year was 10%.
(II) Ram has 350 shares of Rs. 10 denomination.

Solution

Statement 1 gives last year's data which is irrelevant.

Statement 2 gives us his total investment which is Rs. 3500

Rate of interest offered by the company is (Dividend/Investment) x 100.

$$\therefore\ $$ Statement II alone is sufficient to answer the question.

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