Aman buys 400 ten-rupee shares at a premium of Rs 2.50 on each share. If the rate of Rs 2.50 on each share. If the rate of dividend is 8%, find dividend received.
Answer & explanation
Correct answer: option 1
The correct answer is option (1) : ₹320
Dividend on 1 share of $₹10=₹\left(\frac{8}{100}×10\right)$
∴ Dividend on 400 shares of $₹10 = ₹(0.8 ×400)$
$=320$