By investing ₹4650 in a $7\frac{1}{2}$% stock, a person obtains an income of ₹300. The market price of the stock is:

₹116.25

The correct answer is Option (1) → ₹116.25

Investment = Rs. 4,650

Nominal Interest = $\frac{15}{2}\%=7.5\%$

Income obtained = Rs. 300

$\text{Income}=\frac{\text{Nominal Value×No. of shares×Dividend}}{100}$

$\text{No. of shares} = \frac{\text{Investment}}{\text{Market Price}}=\frac{4650}{M}$

$⇒\frac{4650}{M}×\frac{7.5}{100}×100=300$

$⇒M=\frac{34875}{300}=116.25$