1st case
Nominal value of 1 share = Rs. 10
Nominal value of 360 shares = Rs. 10 × 360 = Rs. 3,600
Market value of 1 share = Rs. 21
Market value of 360 shares = Rs. 21 × 360 = Rs. 7,560
Dividend% = 12%
Dividend = 12% of Rs. 3,600
Nominal value of 2160 shares = Rs. 5 × 2160 = Rs. 10,800
Dividend% = 4.5%
Dividend = 4.5% of Rs. 10,800
= (4.5/100) ×10,800= Rs. 486
Annual change in income = Rs. 486 – Rs. 432
= Rs. 54 increase Ans.