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In order to obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of___________?

Correct answer: A. Rs. 6240

  • A. Rs. 6240
  • B. Rs.3100
  • C. Rs.6500
  • D. Rs.9600

Explanation

A 10% stock must have a face value of Rs. 6500 to produce Rs. 650 income, because Rs. 6500 x 10/100 = Rs. 650. At a quotation of 96, the required investment is Rs. 6500 x 96/100 = Rs. 6240. The likely trap is Rs. 6500, which is the face value of stock, not the amount invested at the quoted price.

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