Question
A person invests ₹80,000 in a mutual fund. The
investment grows at a rate of 8% per annum, compounded annually. After 3 years, he decides to withdraw ₹10,000 and reinvest the remaining amount at the same rate. After another 2 years, the remaining amount grows at the same rate, and he sells the entire amount. What is the total amount he receives after 5 years?Solution
Initial investment = ₹80,000. Rate = 8% per annum, compounded annually. Amount after 3 years: A = P(1 + r/n)^(nt) = ₹80,000(1 + 0.08)^3 = ₹80,000 × 1.2597 = ₹1,00,776. Amount remaining after withdrawing ₹10,000 = ₹1,00,776 - ₹10,000 = ₹90,776. Amount after 2 more years: A = P(1 + r/n)^(nt) = ₹90,776(1 + 0.08)^2 = ₹90,776 × 1.1664 = ₹1,06,930. Total amount = ₹1,06,930. Final amount received = ₹1,06,930. Closest option: b) ₹1,06,930.
The difference between the present ages of a mother and her son is 32 years. Six years ago, the mother was 4 years younger than twice the present age of...
A petrol pump has a blend of 40 liters of petrol and diesel in the ratio of 5:3. After selling 16 liters of the mixture, 12 liters of petrol are added t...
In what ratio rice at 44 Rs/kg should be mixed with the rice at 28 Rs/kg so that selling mixture at Rs 42 per kg gives the profit of 20% if the quantity...
A merchant initially sells wheat with a 25% profit margin. However, if the selling price is lowered by Rs. 40, the sale results in a 25% loss instead. W...
In what ratio rice at 48 Rs/kg should be mixed with the rice at 34 Rs/kg so that selling mixture at Rs 46 per kg gives the profit of 15% if the quantity...
4, 14, 44, 134, ?, 1214
9 litre of milk is taken out from a container and replaced by water. This process is repeated once more, the ratio of quantity in container (M: W) is 16...
What will come in the place of question mark (?) in the given expression?
(18.75% of 800 ÷ 5) of 40 ÷ 10 = ?
In what ratio coffee at 275 Rs/kg should be mixed with the coffee at 325 Rs/kg so that after mixture its rate become 290 Rs/kg if the quantity of 1st ty...
In a zoo, tiger and ostrich were counted. If heads were counted, there are 400 and if legs are counted there were 820. How many ostrich are there?
Relevant for Exams:
