Question

Mr. popatlal invested Rs. 2,15,000 in a Mutual Fund. He got Rs. 3,05,000 after 2 years. Mr. natwarlal 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 ?don't spam​

Answer 1

Answer:

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Answer 2

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

Amount received by Mr. Hiralal = Rs 3,05,000

∴ Mr. Hiralal’s profit = Amount received – Amount invested

= 305000 – 215000

= Rs 90000

Mr. Hirala’s percentage of profit

= (90000/215000) x 100

= 41.86%

Mr. Ramniklal:

P = Rs 140000, R = 8%, n = 2 years

∴ Compound interest (I)

= A – P

= 140000 [(1 + 0.08)2 – 1]

= 140000 [ (1.08)2 – 1]

= 140000(1.1664 – 1)

= 140000 x 0.1664

= Rs 23296

∴ Mr. Ramniklal’s percentage of profit

= (23296/140000) × 100

= 16.64%

∴ The percentage gains of Mr. Hiralal and Mr. Ramniklal are 41.86% and 16.64% respectively, and hence, Mr. Hiralal’s investment was more profitable.

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