Shruti invests a part of Rs. 18,000 in 10% stock at Rs. 105 and the remainder in 15% stock at Rs. 10

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22 Mar 2018 Stocks

Shruti invests a part of Rs. 18,000 in 10% stock at Rs. 105 and the remainder in 15% stock at Rs. 105. If her total dividend per annum is Rs. 2100, how much does she invest in 10% stock at Rs. 105?

OPtion

1) Rs. 8000
2) Rs. 8100
3) Rs. 9000
4) Rs. 8900
5) Rs. 8200
6) Rs. 8800
7) Rs. 9300
8) Rs. 9700
9) Rs. 9900
10)Rs. None of these

Solution

Let investment in 10% stock be Rs. x.
Then, investment in 15% stock = Rs. (18000 - x).
Therefore (10/105)*x + (15/105)(18000 - x) = 2100
=> 2x/21 + 1/7(18000-x) = 2100
=> -x/21 + 18000/7 = 2100
solving
=> x = 9900

Option 9)

Correct Option: 9 Best Solution (0)