Math, asked by dunkindonuts, 11 months ago

Rehan kept 30000 in a bank at 9% compound interest for 2 years. Armaan invests Rs. 95000 in a mutual fund for 2 years and receive 114000 Whose investment is more profitable.

Answers

Answered by Mahikothare22
0

1 Investment

P=30000

T=2yrs

R=9%

SI=PTR/100

SI=30000×2×9/100

SI=5400

Answered by RvChaudharY50
0

Given :- Rehan kept Rs. 30,000 in a bank at 9% compound interest for 2 years. Armaan invested Rs. 95,000 in a mutual fund for 2 years and received Rs. 1,14,000. Whose investment was more profitable ?

Solution :-

case 1) :-

  • Principal = Rs.30000
  • Time = 2 years.
  • Rate = 9% compounded annually .
  • CI = P[{1 + (R/100)}^T - 1]

so,

→ CI = 30000[{1 + (9/100)}² - 1]

→ CI = 30000[(109/100)² - 1]

→ CI = 30000[(109² - 100²)/10000]

→ CI = 3 * 209 * 9

→ CI = Rs.5643

then,

→ Profit % = (5643 * 100)/30000 = 18.81% .

therefore, Rehan profit from bank is 18.81% .

case 2) :-

→ sum invested by Armaan = Rs.95000 .

→ sum received = Rs.1,14,000 .

so,

→ Profit recieved from mutual fund = 114000 - 95000 = Rs.19000 .

then,

→ Profit % = (19000 * 100) / 95000 = 20% .

therefore, Armaan profit from mutual fund is 20% .

Hence, we can conclude that, The investment of Armaan was more profitable .

Learn more :-

The difference between the compound interest & simple interest on a sum of ₹15000 for 2 years is ₹96 find the rate of in...

https://brainly.in/question/16231538

calculate the difference between compound interest and simple interest on rupees 5000 of 2 year at 8% per annum payable ...

https://brainly.in/question/16939635

Similar questions