By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at:

Question:
By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at:

[A].

Rs. 80

[B].

Rs. 96

[C].

Rs. 106

[D].

Rs. 108

Answer: Option B

Explanation:

To earn Rs. 135, investment = Rs. 1620.

To earn Rs. 8, investment = Rs.		1620	x 8		= Rs. 96.
		135

Market value of Rs. 100 stock = Rs. 96.