In order to obtain an income of Rs. 500 from 30% stock at Rs. 90, one must make an investment of
Options:
A) Rs.1550
B) Rs.1430
C) Rs.1450
D) Rs.1400
E) Rs.1500
Explanation :   Market Value = Rs. 90   Required Income = Rs. 500.   Here face value is not given. Take face value as Rs.100 if it is not given in the question   To obtain Rs.30 (ie,30% of the face value 100), investment = Rs.90   To obtain Rs.15000, investment = 90/30Ã—500=Rs.1500   Answer : Option Rs.1500
<result>E</result>
In order to obtain an income of Rs. 500 from 30% stock at Rs. 90, one must make an investment of