A group of 20 friends formed an investment club, with each member contributing an equal amount to the general fund. The club then invested the entire fund, which amounted to 1 taka, in stock X. The value of the stock subsequently increased 40 percent, at that point the stock was sold and the proceeds divided evenly among the members. In terms of t, how much money did each member of the club receive from the sale?
Solution
Correct Answer: Option D
After 40% increase, amount = t + 40% of t
= t + 0.4t
= 1.4t
each member of the club received = 1.4t/20
= 14t/(20 × 10)
= 7t/100
= t + 0.4t
= 1.4t
each member of the club received = 1.4t/20
= 14t/(20 × 10)
= 7t/100
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