Mr Ashok kept 150000 rupees in a bank at 7% compound interest for 3 years Mr John invested 120000 rupees - Maths - Financial Planning

Question

Mr Ashok kept 150000 rupees in a bank at 7% compound interest for 3
years Mr John invested 120000 rupees in a mutual fund for 3 year
after 3 years Mr John received 180000 rupees whose investment
turned out to be more profitable

Brijendra Pal · Accepted Answer

Hi,
Interest received by Mr John = 180000-120000= 60,000Now for Mr
 Ashok, A =P 1+r100n=150000×1+71003=150000×107100×107100×107100=183756
45 So interest recieved by Mr
 Ashok = 183756 45- 150000= 33756
45 Here we can see that John is getting more interest

Mr Ashok kept 150000 rupees in a bank at 7% compound interest for 3 years Mr John invested 120000 rupees in a mutual fund for 3 year after 3 years Mr John received 180000 rupees whose investment turned out to be more profitable