A man bought 40 shares of Rs. 60 at 5 discount, the rate of dividend being 12%The rate of interest obtained is
Select the correct option
A) 13.09%
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 %   Dividend per share = 60×12×100=Rs.7 1/5   Total dividend = (40 × 7 1/5)   ie, He got a dividend of (40 × 7 1/5) for an investment of Rs.(40 × 55)   Interest obtained = 40×7 1/5×100/40×55=13.09%   13.09%nswer : Option 13.09%
<result>A</result>
A man bought 40 shares of Rs. 60 at 5 discount, the rate of dividend being 12%The rate of interest obtained is