A man bought 40 shares of Rs. 60 at 5 discount, the rate of dividend being 1212%The rate of interest obtained is	Pick one:  A) 13.64%  B) 15.5%  C) 14%  D) 14.25%  E) 14.95%
Explanation :   Face Value of a share = Rs.60   He bought each share at Rs.60 - Rs.5 = Rs.55   Number of shares = 40   Dividend = 12 1/2%=25/2%   Dividend per share = 60×25/2×100=Rs.7.5   Total dividend = (40 × 7.5)   ie, He got a dividend of (40 × 7.5) for an investment of Rs.(40 × 55)   Interest obtained = 40×7.5×100/40×55=13.64%   13.64%nswer : Option 13.64%
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A man bought 40 shares of Rs. 60 at 5 discount, the rate of dividend being 1212%The rate of interest obtained is