To obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of:
Question
To obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of:
Solution
To calculate the investment needed, we first need to understand the terms given:
- Income desired = Rs. 650
- Rate of stock = 10%
- Price of stock = Rs. 96
The income from a 10% stock at Rs. 96 means that Rs. 10 (which is 10% of Rs. 100) is obtained from an investment of Rs. 96.
Now, let's calculate the investment needed to obtain an income of Rs. 650.
Step 1: Find out how much investment is needed to get an income of Rs. 1. Investment for Rs. 1 income = Price of stock / Rate of stock Investment for Rs. 1 income = Rs. 96 / Rs. 10 Investment for Rs. 1 income = Rs. 9.6
Step 2: Find out how much investment is needed to get an income of Rs. 650. Investment for Rs. 650 income = Investment for Rs. 1 income * Desired income Investment for Rs. 650 income = Rs. 9.6 * Rs. 650 Investment for Rs. 650 income = Rs. 6240
So, to obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of Rs. 6240.
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