By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at:

A. Rs. 80
B. Rs. 96
C. Rs. 106
D. Rs. 108
Answer: B

Explanation:

To earn Rs. 135, investment = Rs. 1620.
To earn Rs. 8, investment = Rs.(1620/135 x 8) = Rs. 96.
Market value of Rs. 100 stock = Rs. 96.