Question

Mr hiralal invested rs 2,15,000 in mutual fund. he got rupees 305000 after 2years. Mr ramniklal invested rupees 114000 at8% compound interest for 2 years in a bank find out the percent gain of each of them whose in investment was more profitable

Answer 1

Mr. Ramniklal's investment was more profitable

Answer 2

Mr. hiralal's invested money = ₹2,15,000

amount got after 2 yrs = ₹30,5000

gain = 30,5000 - 215,000

= ₹90,000

% gain = 90,000 × 100/215000

= 41.86%

second case:

invested money = ₹114000

rate = 8% p.a , time = 2yrs

amount = 11,4000 [ 1+ (8/100) ]^2

= 11,4000 ×54/50 × 54/ 50

= ₹132969.6

gain = ₹132969.6 -₹11,4000

= ₹18969.6

% gain = 18969.6 × 100/114000

= 16.64%

41.86% > 16.64%

hiralal's gain = 41.86%

ramniklal's gain =16.64%

thus , hiralal's investment was more profitable .