Mr. Shah invested Rs 3,20,000 in a bank at 10% compound interest . He also invested Rs. 2, 40,000mutual funds. At market rates he got ₹ 3,05,0002 years. How much did he gain ? which of his investments was more profitable? About the author Alexandra
Answer: Mr. Shah invested Rs. 3,20,000 in bank at 10% compound interest. He also invested Rs. 2,40,000 in mutual funds. At market rates he got Rs. 3,05,000 … Top answer · 2 votes 1^st year P = Rs 3,20,000 r = 10% p.a. t = 1 yr Interest = Rs 3,20,000 × 10 × 1100 = Rs 32000 A = Rs 3,52,000 2^nd year P = Rs 3,52,000 r = 10%.p.a. … Reply
Answer: Mr. Shah invested Rs. 3,20,000 in the bank and got Rs. 67,200 as interest. Let us see percentage of interest obtained on the investment. The amount Mr. Shah got at the end of 2 years from the mutual fund = 3,05,000 rupees → The gain from the mutual fund = 3,05,000 2,40,000 = 65,000 rupees Percentage gain = 65000 x 100/240000 = 27.08 The investment in the mutual fund yielded a profit of 27.08% It is clear that Mr. Shah’s investment in the mutual fund was more profitable. Reply
Answer:
Mr. Shah invested Rs. 3,20,000 in bank at 10% compound interest. He also invested Rs. 2,40,000 in mutual funds. At market rates he got Rs. 3,05,000 …
Top answer · 2 votes
1^st year P = Rs 3,20,000 r = 10% p.a. t = 1 yr Interest = Rs 3,20,000 × 10 × 1100 = Rs 32000 A = Rs 3,52,000 2^nd year P = Rs 3,52,000 r = 10%.p.a. …
Answer:
Mr. Shah invested Rs. 3,20,000 in the bank and got Rs. 67,200 as interest.
Let us see percentage of interest obtained on the investment.
The amount Mr. Shah got at the end of 2 years from the mutual fund = 3,05,000 rupees
→ The gain from the mutual fund = 3,05,000 2,40,000 = 65,000 rupees
Percentage gain = 65000 x 100/240000 = 27.08
The investment in the mutual fund yielded a profit of 27.08%
It is clear that Mr. Shah’s investment in the mutual fund was more profitable.