Question

The amount required to buy 100 units of a scheme having an entry load of 1.5 % and Net Asset Value of ₹20 is____​

Answer 1

100 would buy units = (Rs. 100 – Rs. 2)/11 = 8.9 units

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Answer 2

Answer:

Total amount required to buy is 2030 Rs

Step-by-step explanation:

Given : No of units to buy = 100 units

           entry load = 1.5%

           NAV = 20 Rs

           Total amount required to buy = ?

Solution : Total units value = no of unit x NAV

                                            = 100 x 20

                                            = 2000 Rs

              Entry load amount = total unit value x % entry load

                                             = 2000 x 1.5%

                                             = 2000 x 1.5/100

                                             = 30 Rs

Total amount required to buy = Total units value + entry load amount

                                                = 2000 + 30

                                                = 2030 Rs