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A man buys Rs. 20 shares paying 9% dividend. The man wants to have an interest of 12% on his money. The market value of each share is:

1. Rs. 12
2. Rs. 15
3. Rs. 18
4. Rs. 21

Correct answer: Rs. 15

Solution

Dividend on a Rs. 20 share at 9% is Rs. 1.8 per share. If the desired return is 12%, then \(\frac{1.8}{\text{market value}}\times 100 = 12\). Solving gives market value = Rs. 15.

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