Refer to the below data table and answer the following question.
Partners Present % share
Anand 15
Basu 5
Chinmay 15
Dhiraj 20
Ejaz 45
If the company has issued six lakh (6,00000) 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?
- A270000 shares
- B300000 shares
- C255000 shares
- D285000 shares
Solution & Step-by-step Explanation
1. Calculate Ejaz's initial number of shares:
Ejaz holds a 45% share of the total issued shares.
Initial shares of Ejaz=45% of 6,00,000
Initial shares of Ejaz=
100
45
×6,00,000=45×6,000=2,70,000 shares
Add the shares bought from Basu:
Basu sells 15,000 shares to Ejaz.
New total shares for Ejaz=2,70,000+15,000=2,85,000 shares
Ejaz holds a 45% share of the total issued shares.
Initial shares of Ejaz=45% of 6,00,000
Initial shares of Ejaz=
100
45
×6,00,000=45×6,000=2,70,000 shares
Add the shares bought from Basu:
Basu sells 15,000 shares to Ejaz.
New total shares for Ejaz=2,70,000+15,000=2,85,000 shares