By investing Rs. 1620 in 8% stock,Michael earns Rs. 135.The stock is then quoted at :
Choose the most appropriate option:
A) Rs. 80  B) Rs. 96  C) Rs. 106  D) Rs. 108  E) None of these
Solution   To earn Rs. 135, investment = Rs. 1620.   To earn Rs. 8, investment = Rs. (1620/135x8) =96   ∴ Market value of Rs. 100 stock = Rs. 96.   Answer Rs. 96
<result>B</result>
By investing Rs. 1620 in 8% stock,Michael earns Rs. 135.The stock is then quoted at :