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I want to purchase a 6% stock which must yield 5% on my capital. At what price must I buy the stock?

Rs. 111
Rs. 101
Rs. 83.33
Rs. 120

Correct Answer: Rs. 120

Explanation:

For an income of Rs. 5, investment = Rs. 100
For an income of Rs. 6, investment = Rs. (100/5) x 6 = Rs. 120

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