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By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at:

80
96
106
108

Correct Answer: 96

Explanation:

To earn Rs. 135, investment = Rs. 1620.

To earn Rs. 8, investment = $R s . \frac{1620}{135} \times 8$ = Rs. 96.

Market value of Rs. 100 stock = Rs. 96.

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