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A man invested Rs. 4455 in Rs. 10 shares quoted at Rs. 8.25. If the rate of dividend be 12%, his annual income is:

107.04
648
500
648.60

Correct Answer: 648

Explanation:

Number of shares = $\frac{4455}{8.25}$ = 540.

Face value = Rs. (540 x 10) = Rs. 5400.

Annual income = $R s . \frac{12}{100} * 5400$ = Rs. 648.

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