Question
Mathematics Question on Ratio and Proportion
Person 1 and Person 2 invest in three mutual funds A, B, and C. The amounts they invest in each of these mutual funds are given in the table.
| Mutual fund A | Mutual fund B| Mutual fund C
---|---|---|---
Person 1| ₹10,000| ₹20,000 | ₹20,000
Person 2| ₹20,000 | ₹15,000 | ₹15,000
At the end of one year, the total amount that Person 1 gets is ₹500 more than Person 2. The annual rate of return for the mutual funds B and C is 15% each. What is the annual rate of return for the mutual fund A?
A
0.075
B
0.1
C
0.15
D
0.2
Answer
0.1
Explanation
Solution
The correct answer is (B): 0.1