Question

Mr. Hiralal invested 215000 in a mutual fund . He got 305000 after 2 years . Mr Ramniklal invested 140000 at 8% compound interest for 2 years in a bank . Find out the percent gain of each of them . Whose investment was more profitable ?

Answer 1

$A=P(1+r{)}^t$ (RAMNIKLAL)

$A=140000(1+\frac{8}{100}{)}^2=140000(1.08{)}^2$

= 163296

CI = A - P = 163296-140000

= 23296 Rs.

Gain% = $\frac{23296}{140000}\times 100$ =16.64%

HIRALAL:-Gain $\frac{305000-215000}{215000}\times 100$

= 41.86%

HIRALAL'S INVESTMENT WAS MORE PROFITABLE