A company has issued 500 preferred shares and 400 common shares both of par value Rs. 100 each. The dividend on a preferred share and a common share is 8% and 12%, respectively. The company had a total profit of 150000 rupees out of which some amount was kept in reverse fund and the remaining disturbed as dividend. Find the amount kept in reserve fund.
Choose the correct choice from the following answers:
A) 141000 B) 141500 C) 141300 D) 141250 E) 141200
Face value of each preferred share = 100   Dividend per preferred share = 100×8/100   Total dividend in all preferred shares = (500×100×8)/100=Rs.4000   Face value of each common share = 100   Dividend per common share = 100×12/100   Total dividend in all common shares = 400×100×12/100 = Rs.4800   Total dividend = Rs.4000 + Rs.4800 = Rs.8800   amount kept in reserve fund = Rs.150000 - Rs.8800 = Rs.141200   Answer is 141200.
<result>E</result>
A company has issued 500 preferred shares and 400 common shares both of par value Rs. 100 each. The dividend on a preferred share and a common share is 8% and 12%, respectively. The company had a total profit of 150000 rupees out of which some amount was kept in reverse fund and the remaining disturbed as dividend. Find the amount kept in reserve fund.