Question

Mr.Hiralal invested Rs.2,15,000 in a mutual fund.He got Rs.3,05,000 after 2 years Mr.ramnikal invested Rs.1,40,000 at 8% compound interest for 2 years in a bank.find out the percent gain of each of them.whose investment was profitable?​

Answer 1

Principal amount = Rs. 1,40,000

Rate, r = 8%

Time period, n = 2years

Compound interest (CI) =


=


=


= Rs.23296

% gain =


=


= 16.64%

For Hiralal,

Principal amount = Rs. 2,15,000

Amount gained = Rs. 3,05,000

Time period, n = 2year

Profit/gain = A - P

= 3,05,000 – 2,15,000

= Rs. 90,000

% gain =


=


= 41.86%
Mr. Hiralal investment is more profitable.

Answer 2

Answer:

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