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A man sells Rs.5000, 12 % stock at 156 and uinvests the proceeds parity in 8 % stock at 90 and 9 % stock at 108. He hereby increases his income by Rs. 70. How much of the proceeds were invested in each stock?

Correct answer: A. 3600(8%), 4200(9%)

  • A. 3600(8%), 4200(9%)
  • B. 4000(8%), 4200(9%)
  • C. 3600(8%), 4000(9%)
  • D. 4000(8%), 4000(9%)

Explanation

Selling Rs. 5000 nominal stock at Rs. 156 gives proceeds of Rs. 5000 x 156/100 = Rs. 7800. The new income must be Rs. 600 + Rs. 70 = Rs. 670; if x is placed in the 8% stock, then 8x/90 + 9(7800 - x)/108 = Rs. 670, giving x = Rs. 3600 and the remainder Rs. 4200. The likely mistake is option c, which does not satisfy both the total proceeds and the required income.

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