Question

• 7. Mr Singh invests Rs 60,000 in a mutual fund which grows at the rate of 15% per annum.
(i) What sum will he receive at the end of the second year?
(ii) What is the sum by which his money will grow in 3 years?​

Answer 1

Answer:

i)18000rupees

ii)27000rupees

Step-by-step explanation:

i) principal is 60000

rate is 15%

interest is (60000×15×2)÷100

(900000×2)÷100

1800000÷100=18000(answer)

ii)interest=(900000×3)÷100

2700000÷100

27000(answer)

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Answer 2

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