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1. By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at:

A. Rs. 80

B. Rs. 96

C. Rs. 106

D. Rs. 108

Solution:

To earn Rs. 135, investment = Rs. 1620
To earn Rs. 8,
investment =

Rs . (\frac{1620}{135} \times 8) = Rs . 96

∴ Market value of Rs. 100 stock = Rs. 96

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