By investing Rs. 7,200 in a stock at 120, a person earns Rs. 480 a year. What is the rate of the stock?
Correct answer B. 8%
Explanation
Rs. 7,200 at 120 buys 7,200 × 100/120 = Rs. 6,000 of stock. Rate = 480/6,000 × 100 = 8%.
Answer checked How we write and check questions
Discussion