A man bought 40 shares of Rs. 60 at 5 discount, the rate of dividend being 1212%The rate of interest obtained is
Select the correct option:
A) 13.64 %
B) 15.5 %
C) 14 %
D) 14.25 %
E) 14.95 %

Rationale: explanation : face value of a share = rs . 60 he bought each share at rs . 60 - rs . 5 = rs . 55 number of shares = 40 dividend = 12 1 / 2 % = 25 / 2 % dividend per share = 60 × 25 / 2 × 100 = rs . 7.5 total dividend = ( 40 × 7.5 ) ie , he got a dividend of ( 40 × 7.5 ) for an investment of rs . ( 40 × 55 ) interest obtained = 40 × 7.5 × 100 / 40 × 55 = 13.64 % answer : option a
Answer: A