A man bought 40 shares of Rs. 60 at 7 discount, the rate of dividend being 1212%The rate of interest obtained is Select the correct option
A) 13.64%  B) 15.5%  C) 14%  D) 14.15%  E) 14.95%
Explanation :   Face Value of a share = Rs.60   He bought each share at Rs.60 - Rs.7 = Rs.53   Number of shares = 40   14.15%ividend = 12 1/2%=25/2%   14.15%ividend 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 × 53)   Interest obtained = 40×7.5×100/40×53=14.15%   Answer : Option 14.15%
<result>D</result>
A man bought 40 shares of Rs. 60 at 7 discount, the rate of dividend being 1212%The rate of interest obtained is