Kiran invested Rs25000 in a
mutual fund on 1st May 2008
when the NAV was
Rs1,073.2568. He redeemed
the units on 8th July 2008
when NAV of Rs1,349.6395.
There was no entry and exit
load. The number of unit
purchased is approximately
23.294
24.294
24.394
23.93
Answers
Answered by
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khushmeet is very very great
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GIVEN-
Cost of investment on 1st May 2008 = ₹25,000
NAV on 1st May 2008 = 1073.2568
NAV when redeemed on 8th July 2008= ₹ 1349.6395
- only one entry and exit load
TO FIND-
The approximate number of units purchased
FORMULA USED-
No.of units purchased = (cost of investment) / (NAV at the time of investment)
SOLUTION-
No.of units purchased = 25,000/1073.2568=23.294
Approximate No.of units purchased =23.294
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