Pritam is holding SALORA Mutual Fund units. He sold all the units at a NAV of ₹120 with exit load of 1%. He received ₹52,000. Find the number of units sold by Pritam.

CS Executive · Securities Laws and Capital Markets · PYQS · December 2021
Pritam is holding SALORA Mutual Fund units. He sold all the units at a NAV of ₹120 with exit load of 1%. He received ₹52,000. Find the number of units sold by Pritam.

Answer & Explanation:

Given- NAV = ₹ 120 Exit Load = 1% Total Amount Received = ₹52,000 Now Selling Price of 1 unit = NAV - Exit Load = 120 - {(1/100) × 120} = 118.80 No. of unit Sold = 52,000/118.80 = 437.71 unit

Topics: Mutual Funds

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