[15%] A man bought 20 shares of Rs. 50 at 5 discount, the rate of dividend being 13 \dfrac{1}{2} . The r

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A man bought 20 shares of Rs. 50 at 5 discount, the rate of dividend being 13$ \dfrac{1}{2} $. The rate of interest obtained is:

12$ \dfrac{1}{2} $%

13$ \dfrac{1}{2} $%

15%

16$ \dfrac{2}{3} $%

Explanation:

Investment = Rs. $[20 \times (50 - 5)]$ = Rs. 900.

Face value = Rs. $(50 \times 20)$ = Rs. 1000.

Dividend = Rs.$ \left(\dfrac{27}{2} \times\dfrac{1000}{100} \right) $= Rs. 135.

Interest obtained =$ \left(\dfrac{135}{900} \times 100\right) $%= 15%

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