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

Rs. 80
Rs. 96
Rs. 106
Rs. 108

Correct Answer: Rs. 96

Explanation:

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

To earn Rs. 8, investment = Rs.	❨	1620	x 8	❩	= Rs. 96.
		135

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

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