Subject
MBA Exam
Topic
MBM Admission Test 2003-04(8th Batch)
Lucy invested Tk. 10,000 in a new mutual fund account exactly three years ago. The value of the account increased by 10 percent by 10 percent during the first year, increased by 5 percent during the second year, and decreased by 10 percent during the third year. What is the value of the account today?
Lucy invested Tk. 10,000 in a new mutual fund account exactly three years ago. The value of the account increased by 10 percent by 10 percent during the first year, increased by 5 percent during the second year, and decreased by 10 percent during the third year. What is the value of the account today?
ক)
Tk. 10,350খ)
Tk. 10,395গ)
Tk. 10,500ঘ)
Tk. 11,500Explanation
1st year’s increase of 10% can be expressed as 1.10; 2nd year’s increase of 5% percent can be expressed as 1.05 ; 3rd year’s decrease of 10 percent can be expressed as 0.90 . Multiply the original value of the account by each of these yearly changes= 10,000(1.10)(1.05)(0.90) = 10,395Related questions
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