Find the annual dividend received by Nishita from 1200 preferred shares and 3000 common shares both of par value Rs. 50 each if the dividend paid on preferred shares is 10% and semi-annual dividend of 3½ % is declared on common shares.
Choose the correct choice from the following answers
A) 16000 B) 16500 C) 17000 D) 17500 E) 18000

Rationale: total number of preferred shares = 1200 face value = rs . 50 dividend paid on preferred shares is 10 % dividend per share = 50 × 10 / 100 = rs . 5 total dividend = 1200 × 5 = 6000 total number of common shares = 3000 face value = rs . 50 semi - annual dividend of 3 ½ % is declared on common shares . semi - annual dividend per share = 50 × 7 / 2 × 100 = rs . 74 total semi - annual dividend = 7 / 4 × 3000 = rs . 5250 annual dividend = rs . 5250 × 2 = rs . 10500 total dividend on all all shares ( preferred and common ) = 6000 + 10500 = rs . 16500 answer is b .
Answer: B