Question

Ragini invested rs 5,579 in Reliance mutual funds and received 64.5 units .If the entry load is 2% find the NAV at the time of purchase?​

Answer 1

        $\text{Invested amount} = \text{Rs. }5579$

        $\text{First, we must find 2}\% \text{ of the invested amount}$

$\implies \: \dfrac{2}{100} \times 5579 = 111.46$

        $\text{Then we must subtract it from the invested amount}$

$\implies \: 5579 - 111.46 = 5467.54$

        $\text{Then we must divide }5467.54 \text{ by }64.5$

$\implies \dfrac{5467.54}{64.5} = \boxed{84.76 \; \; \; (\text{approx.)}}$