A man invests some money partly in 9% stock at 96 and partly in 12% stock at 120. To obtain equal dividends from both, he must invest the money in the ratio:
3 : 4
3 : 5
4 : 5
16 : 15
Explanation:
| For an income of Re. 1 in 9% stock at 96, investment = Rs.$ \left(\dfrac{96}{9} \right) $= Rs.$ \dfrac{32}{3} $ |
| For an income Re. 1 in 12% stock at 120, investment = Rs.$ \left(\dfrac{120}{12} \right) $= Rs. 10. |
| $\therefore$ Ratio of investments =$ \dfrac{32}{3} $: 10 = 32 : 30 = 16 : 15. |