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Get access to the detailed solutions to the previous years questions asked in IIFT exam
Bonus share received in 2007 = 650 * (3/13) = 150
Bonus share received in 2008 = 800 * (1/2) = 400
So, has has (150 + 400) = 550 extra shares
Dividend of the share is always issued on face value irrespective of market value
Dividend = (Total value of shares) * (Percentage of dividend)
Dividend he will get 650 * 10 = 23%
Hence, option D is the correct answer.