Mr. Natrajan wants to make an investment of ₹ 50,000 in one of the two banks that fetches him the maximum returns after 6 years. One bank offers 8%…
CA Foundation · Quantitative Aptitude · MTP · June 2024
Mr. Natrajan wants to make an investment of ₹ 50,000 in one of the two banks that fetches him the maximum returns after 6 years. One bank offers 8% interest compounded annually and the other offers 7.5% interest compounded semi-annually. Which bank should be chosen, so that he gets the maximum returns:
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. First Bank
Topics: Part-A: Business Mathematics
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