Maharashtra State BoardSSC (English Medium) 9th Standard
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Mr. Hiralal Invested Rs. 2,15,000 in a Mutual Fund. - Algebra

Sum

Mr. Hiralal invested Rs. 2,15,000 in a Mutual Fund. He got Rs. 3,05,000 after 2 years. Mr. Ramniklal invested Rs. 1,40,000 at 8% compound interest for 2 years in a bank. Find out the percent gain of each of them. Whose investment was more profitable ?

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Solution

Mr. Hiralal's investment = Rs 2,15,000
Return of investment = Rs 3,05,000
Profit = 3,05,000 - 2,15,000 = Rs 90,000
Profit % = ` (90,000) / (215,000)` x 100 = 41.86%
Mr. Ramniklal invested Rs 1,40,000
Rate of interest = 8%
Time= 2 years
CI = A - P
=140,000 `( 1 + 8/100 )^2` - 140,000
= 140,000 `[ ( 108 / 100)^2 - 1]`
= 140,000 x 0.1664
= 23,296


Profit% = `( 23296) / ( 140000)` x 100 = 16.64%
Thus, Mr. Hiralal's investment is more profitable. 

Concept: Saving and Investment
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Balbharati Mathematics 1 Algebra 9th Standard Maharashtra State Board
Chapter 6 Financial Planning
Problem Set 6 | Q 3 | Page 107
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