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Example - 4. A man wants to buy 62 shares available at Rs. 132 (par value of Rs. 100)

1. How much should he invest?
2. If the dividend is 7.5%, what will be his annual income?
3. If he wants to increase his annual income by Rs.150; how many extra shares should he buy?

Solution : No. of share = 62

Par value = Rs. 100

Market value = Rs. 132

Rate of dividend = 7.5 %

(i) Investment = (Rs. 132) X 62

= Rs. 8184

(ii) Dividend per share = 7.5 % of Rs. 100

= 7.5/100 X Rs. 100

= Rs. 7.50

Annual income = (Rs. 7.50) X 62

= Rs. 465

(iii) For income of Rs. 7.50, no of share is 1

For income of Rs.150 no. of shares = 1/7.50 X 50 = 20