Assume that the average variance of return for an individual security is 50 and that the average covariance is 10. what is the expected variance of an equally weighted portfolio of 5, 10, 20, 50, 100, 500 & 1000 securities? how many securities need to be held before the risk of a portfolio is only 10% more than the minimum?

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"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

the correct answer is - no.

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