Anzio, Inc., has two classes of shares. Class B has 10 times the voting rights as Class A. If you own 1 1% of the Class A shares and 29% of the Class B shares, what percentage of the total voting rights do you hold? The percentage of the total voting rights that you hold is %. (Round to one decimal place.)

 

Let the voting rights of Class A be =100

hence voting rights of Class B=1000

Total=1100

Shares owned in class A shall be (11% * 100)= 11

Shares owned in class B shall be (29% of 1000)= 290

Total shares owned are (11+290)= 301

Total number of shares is (100 + 1000)= 1100

Percentage of total voting rights that you hold = (301/1100*100).

= 27.3636%

=27.4% (Rounded to one decimal place.)

Step-by-step explanation

If we make assumption that there are 100 shares of class A and 100 shares for class B.

Given t that Class B has 10  times the voting rights as Class A.  

Total number of shares = [Total number of shares for Class A +(Total number of shares for Class B *Number of voting rights)]

                                               =100 + (100 *10 Times) =

                                               =100+1000

                                                = 1100

Thus, total numbers of votes are 1100.

Given that you own 11% of the Class A shares and 29% of the Class B shares.

Total number of votes = [(Number of shares owned in Class A * Total shares in Class A ) + (Number of shares owned in Class B * Total shares in Class B)]

                                                =[(11%x100)+(29%* 1000)]

                                               = [11+290] =301Votes

Hence, the number of votes you have is 301.

Percentage of voting rights          =Total number of votes you have /Total number of votes

                                                              301/1100

                               =0.273636 or 27.3636%

                               =>27.4%%

Hence, the percentage of voting rights = 27.4%.