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A man bought 20 shares of Rs. 50 at 5 discount, the rate of dividend being 13½. The rate of interest obtained is:

12 1 % 2
13 1 % 2
15%
16 2 % 3

Correct Answer: 15%

Explanation:

Investment = Rs. [20 x (50 - 5)] = Rs. 900.

Face value = Rs. (50 x 20) = Rs. 1000.

Dividend = Rs.	❨	27	x	1000	❩	= Rs. 135.
		2		100

Interest obtained =	❨	135	x 100	❩%	= 15%
		900

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