A man buys Rs. 20 s paying 9% dividend. The man wants to have an interest of 12% on his money. The market value of each is:_________?
A. 12
B. 15
C. 18
D. 20
Dividend on Rs. 20 = Rs. (90/100)x 20 = Rs.9/5.
Rs. 12 is an income on Rs. 100.
Rs.9/5 is an income on Rs.[ (100/12) x (9/5)] = Rs. 15.