WAEC Mathematics 2018 Theory — Question 19

Question 19 of 23 from the West African Examinations Council (WAEC) Mathematics 2018 Theory paper, with the correct answer and a full explanation.

12.(a) Mr. John paid ₦8,400.00 in ₦1.00 ordinary shares of a company which sold at ₦2.50 per share. If dividend was declared at 25k per share, how much dividend did he get?

Model answer

Number of shares bought = 8400/2.50 = 3,360 shares. Dividend = 3360×0.25 = ₦840.00.

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