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Question
How much amount of money do I need to buy Rs. 1400 8% stock at Rs. 130? Take the brokerage to be 2%.
A
Rs. 1848.
B
Rs. 1948.
C
Rs. 1748.
D
Rs. 2048.
Soln.
Ans: a
Ans: a
The amount required to purchase Rs. 100 stock is $130 + 2$. So, for buying Rs. 1400 stock, the required cash is Rs. $(130 + 2)/100$ × 1400 = Rs. 1848.