Question

Nihal has Rs 5 Maruthi shares worth Rs 1000. He sells 120 shares when the shares are selling at Rs 1400 and the remaining shares when the price goes upto Rs 1600. He invests the proceeds in Rs 10 Maruthi shares selling at Rs 1184 find the number of Maruthi shares purchased by Nihal.

Answer 1

No. of Shares = \(\frac{1,000}{5}\) = 200 

Amount received by selling 120 shares at 1400 = 120 × 1,400 = 1,68,000 

Amount received by selling 80 shares art 1,600 = 80 × 1,600 = 1,28,000 

∴ Total amount = 1,68,000 + 1,28,000 = 2,96,000 

∴ Number of shares purchased = \(\frac{29,6000}{1,184}\) = 250