Rakesh has invested ₹20,000 in PQR Mutual Fund with entry load 1%. Find out the Net Asset Value if the number of units purchased was 100.

Step - 1 Let NAV of 1 unit = X Therefore, purchase Price of 1 unit = NAV + Entry Load (1%) = X + (.01X) = 1.01 X Step - 2 Amount Investment - ₹20,000; No. of unit purchased - 100 Purchase price of 1 unit = Amount invested/No of unit purchased = 20,000/100 = 200 From Step 1 and 2 1.01X = 200 X = 200/1.01 = ₹ 198.02