Question

14. Mohan invested 40000 in the bank for 4 years
and got back *58564. What was the rate of
interest pa payable annually?​

Answer 1

Step-by-step explanation:

ANSWER

Mr. Sayyad:-

A=P(1+r)

t

A=40,000(1+0.08)

2

A=40000(1.08)

2

A=46656

CI=A−P=46656−40000

=6656Rs.

Profit%=

40000

6656

×100=16.64%

Mr. Fernandes:-

Profit =192000−120000

=72000

Profit%=

120000

72000

×100

=60%.

Clearly, Mr. Fernandes's investment was more profitable.