Question

Mr. Hiralal invested Rs. 2,15,000 in a Mutual Fund. He got Rs. 3,05,000 after 2 years. Mr. Ramniklal 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 more profitable ?

Answer 1

Percent gain is 43.5%
Mr. Ramnikalal was more profitable.
Hope it helps :)

Answer 2

Answer:

Gain % of Mr. HIralal = 41.86 %

Gain % of Mr. Ramniklal = 16.64 %

and,

Mr. Hiralal's investment was more profitable.

Step-by-step explanation:

In the question,

Amount invested by Mr. Hiralal = Rs. 2,15,000

Amount received after 2 years = Rs. 3,05,000

Also,

Amount invested by Mr. Ramniklal, P = Rs. 1,40,000

Interest rate, r = 8%

Time, t = 2 years

So,

Percent gain can be given by,

$Gain\%=\frac{Final\ price - Initial\ price}{Initial\ price}\times 100$

So,

Percent gain of Mr. Hiralal is given by,

$Gain\%=\frac{305000-215000}{215000}\times 100\\Gain\%=41.86\%$

Also,

Amount received by Mr. Ramniklal after 2 years is given by,

$A=P(1+\frac{r}{100})^{t}\\So,\\A=140000(1+\frac{8}{100})^{2}\\A=140000(1.08)^{2}\\A=163296\ Rs.$

Therefore,

Gain percent by Mr. Ramniklal is given by,

$Gain\%=\frac{163296-140000}{140000}\times 100\\Gain\%=16.64\%$

So,

Gain % of Mr. HIralal = 41.86 %

Gain % of Mr. Ramniklal = 16.64 %

Therefore, we can see that Mr. Hiralal's investment was more profitable.