A man buys Rs. 20 shares paying 9% dividend. The man wants to have an interest of 12% on his money. The market value of each share is:

$$\eqalign{ & {\text{Dividend}}\,{\text{on}}\,Rs.\,20 \cr & = Rs.\,\left( {\frac{9}{{100}} \times 20} \right) \cr & = Rs.\,\frac{9}{5} \cr & Rs.\,12\,{\text{is}}\,{\text{an}}\,{\text{income}}\,{\text{on}}\,Rs.\,100. \cr & \therefore Rs.\,\frac{9}{5}\,{\text{is}}\,{\text{an}}\,{\text{income}}\,{\text{on}} \cr & = Rs.\,\left( {\frac{{100}}{{12}} \times \frac{9}{5}} \right) \cr & = Rs.\,15 \cr} $$