Question

Ragini invested Rs. 5579 in Reliance mutua
fund and received 64.5 units. If the entry
load is 2%. the NAV at the time of purcha:
is.​

Answer 1

Step-by-step explanation:

first of all find 2 percent of 5579

2/100×5579=111.58

then, subtract 111.58 from 5579

5579-111.58=5467.42

then , divide 5467.42 from 64.5

84.76 ( approx..)

Answer 2

The value of the NAV at the time of purchase is 84.80

Step-by-step explanation:

Given:

Rs. 5579 is invested by Ragini in Reliance mutual fund and received 64.5 units.

The entry load is 2% of NAV.

To Find:

The value of the NAV at the time of purchase .

Formula Used:

Number of units purchased = Invested  Amount/ Purchase price of one unit

Solution:

As given- Rs. 5579 is invested by Ragini in Reliance mutual fund and received 64.5 units.

The entry load   is 2% of NAV.

Let  the value of the NAV at the time of purchase  is Z.

Entry load$=2\% of NAV$   $=2\% of Z$

                                          $= 0.02 Z$

Purchase price per unit = Entry load + NAV

                                     $= 0.02 Z +Z =1.02 Z$

Number of units purchased = Invested  Amount/ Purchase price of one unit                                    $64.5=\frac{5579}{1.02Z}$  

                                         $Z=\frac{5579}{(64.5\times1.02)}$

                                   $Z=84.80$

                                           

               

   Thus,  The value of the NAV at the time of purchase is 84.80