Question 48

‘A’ wants to secure an annual income of Rs. 1500 by investing in 15% debentures of face value Rs. 100 each and available for Rs. 104 each. If the brokerage is 1%, then the sum of money he should invest is

Solution

Let $$x$$ be the face value of debentures.

Then, 15% of $$x$$ = 1500

=> $$x=10,000$$

=> Available value = $$\frac{104}{100}\times10,000=10,400$$

Brokerage = 1% of 10400 = 104

$$\therefore$$ Total money invested = $$10400+104=Rs.$$ $$10504$$

=> Ans - (C)

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