Question on: SS3 Mathematics - Financial Arithmetic
William bought \(1,000\) \(50k\) shares at \(75k\) per share with a dividend of \(15\%\). What is the total dividend?
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A
N750
B
N75
C
N7,500
D
N7.50k
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Correct Option: B
\[15\%\ dividend\ on\ the\ face\ value\ of\ shares\ held\ = \ 10\%\ of\ (1,000 \times 50k)\]
\[= 15\%\ of\ 50,000k\]
= 7,500k
= N75
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