Asha buys ₹ 20 shares of a company which pays 9% dividend at such a price that she gets a return of 12% on her investment. At what price did she buy each share?

Given,

Face Value (FV) of share = ₹ 20

Dividend = 9%

Return on investment = 12%

By formula,

Dividend % × N.V. = Return % × M.V.

$\frac{9}{100} \times 20 = \frac{12}{100}$ × M.V.

180 = 12 × M.V.

M.V. = $\frac{180}{12}$ = ₹ 15.

Hence, option 2 is the correct option.