Question

Rajesh invested 15,000 in a Mutual Fund when the NAV was 230 and the entry load was
at 2.25%. Find the number of units received by him.

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Answer 1

Answer:

given below↓

Step-by-step explanation:

For instance, if the exit load levied on a one-year scheme is 2% and is redeemed within 4 months which would much before the agreed period of investment. So, here an exit load comes into the scene. If the NAV of the fund is Rs.40 during the time of redemption, the exit fee charged would be 2% of Rs. 40 which is equal to 0.8. After deducting this amount from the NAV, which is Rs. 39.20 gets credited to the investor. Moreover, if the investor completes the agreed tenure of the funds, then he/she won’t have to pay the exit load at the time of redemption.

I hope it concept help you