Question

mr.hiralal invested rs 215000 in a mutual fund he got rs305000 after two years.mr.ramniklal invested rs140000 at 8% compound interest for 2 yrs in a bank. find out the percentage gain each of them.whose investment was more profitable.

Answer 1

Mr. Hiralal:   
   Amount invested = Rs 2, 15, 000.
   Amount obtained = Rs 3, 05, 000.
=> Amount gained = total interest for 2 years = Rs 90, 000.
=>  Gain per Rs 1, 000 of investment
             = 90,000/2,15,000 * 100 = 41.86%

Mr. Ramniklal:
   investment :  Rs 1, 40, 000
   Rate of interest = 8%  C.I.
   period = 2  years
   Maturity amount = A = Rs 1,40,000 * (1 + 8/100)²
      = 1,40,000 * 1.08²
      = Rs 1, 63, 296
  Amount (interest) gained in 2 years = Rs 23, 296.
=> amount gained per 1000 of investment
        = 23, 296/1,40,000 * 100 = 16.64 %

So Mr. Hiralal's investment was better and more profitable.

Answer 2

Answer:

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Step-by-step explanation:

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