TET 2024Medium
Q.Person A invested Rs. 3,20,000 at the compound rate of interest 10 p.c.p.a. for 2 years in the bank. Person B invested Rs. 2,40,000 in the tax free mutual fund for 2 years, for which he received Rs. 3,04,800. Then, whose investment is more and by what percentage?
a
A, 6%
b
B, 6%
c
A, 7%
d
B, 7%
Correct Answer: Option B
The correct solution involves applying the fundamental concept to derive the final value step by step...