Question

Mr Kiran kept rupees 20000 in a bank at 7% compound interest for 3 years Mr Rohit invested rupees 220000 in a mutual fund for 2 years after 2 year Mr Rohit got rupees 300000 whose investment turn out to be more profitable?​

Answer 1

Step-by-step explanation:

compound interest = A(1+i)^n...........................(1)

(A(1+i)^n-1).

if u use (1) principle - interest = interest.

for 3yrs Mr. kiran earned interest

so, interest is ₹4500.(0.225043*20000).

Mr Rohit earned ₹300000 interest for 2yrs.

hence compare their interest.

Mr kiran = (4500/24500)*100 = 18%approx

Mr Rohit has (300000/2500000)*100 = 12%.

comparatively Mr kiran has more interest profitability than Mr Rohit.....

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