Refer to the below data table and answer the following question.
Partners Present % share
Anand 5
Basu 10
Chinmay 30
Dhiraj 5
Ejaz 50
If the company has issued six lakh (600,000) shares between its five partners and if Basu offers to sell 15,000 of his shares to Ejaz, then Ejaz will have how many shares?
- A300000 shares
- B315000 shares
- C330000 shares
- D285000 shares
Solution & Step-by-step Explanation
Total shares issued by the company = 600,000.
According to the table, Ejaz currently holds a 50% share of the total shares:
Initial shares held by Ejaz=50% of 600,000=
100
50
×600,000=300,000 shares
Basu sells 15,000 of his shares to Ejaz. Therefore, the new total shares held by Ejaz will be:
New share count for Ejaz=300,000+15,000=315,000 shares
According to the table, Ejaz currently holds a 50% share of the total shares:
Initial shares held by Ejaz=50% of 600,000=
100
50
×600,000=300,000 shares
Basu sells 15,000 of his shares to Ejaz. Therefore, the new total shares held by Ejaz will be:
New share count for Ejaz=300,000+15,000=315,000 shares