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Stocks And Shares
Rs. 9800 are invested partly in 9% stock at 75 and 10% stock at 80 to have equal amounts of income. The investment in 9% stock is ________?
Explanation and memory cue
To have equal incomes from both investments, calculate income from each stock. Income from 9% stock at 75 is (9% of invested amount) / 0.75, and income from 10% stock at 80 is (10% of invested amount) / 0.80. Setting incomes equal and total investment Rs. 9800, solving gives investment in 9% stock as Rs. 5400.