In order to obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of:

Rs. 3100
Rs. 6240
Rs. 6500
Rs. 9600

Correct answer: Rs. 6240

Solution

A 10% stock gives an annual income of 10% of face value. To earn Rs. 650, the face value needed is Rs. 6500. Since the stock is bought at Rs. 96 per Rs. 100 face value, the investment is \(6500\times 96/100 = 6240\).

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