In order to obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of Choose the correct choice from the following options
A) Rs. 3100 B) Rs. 6500 C) Rs. 6240 D) Rs. 9600 E) Rs. 9800
Explanation :   Market Value = Rs. 96.   Required Income = Rs. 650.   Here face value is not given. Take face value as Rs.100 if it is not given in the question   To obtain Rs.10 (ie,10% of the face value 100), investment = Rs.96   To obtain Rs.650, investment = 96/10×650=6240   Answer : Option Rs. 6240
<result>C</result>
In order to obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of