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A man invested Rs. 14,400 in Rs. 100 shares of a company at 20% premium. If his company declares 5% dividend at the end of the year, then how much does he get?

Rs.500
Rs.600
Rs.650
Rs.720

Correct Answer: Rs.600

Explanation:

Number of shares = $\frac{14400}{120}$ =120.

Face value = Rs.(100 x 120) = Rs.12000.

Annual income = Rs (5/100*12000) = Rs. 600

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