Question

Mr. Sayyad kept Rs. 40000 in a bank at 8% compound interest for 2 years. Mr.Fernandaes invested Rs .120000 in a mutual fund for 2 years. After 2 year , Mr .Fernandes got with Rs. 192000 .Whose investment turned out to be more profitable.


please solve step by steps.

Answer 1

Mr. Sayyad,
first year,
=40000+(40000×8÷100)
=40000+3200
=43200
second year,
=43200+(43200×8÷100)
=43200+3456
=46656

return on investment=46656-40000
=6656

andMr.Fernandez return on investment,
=192000-120000
=72000

so,mr.fernandezs investment was more profitable

Answer 2

Answer:

mr Fernandes investment is more profitable