Best mutual fund has launched a scheme name Grand Bonanza. The net asset value (NAV) of the scheme is ₹12 per unit. The redemption price is ₹11.65 per unit and offer price is ₹12.50 per unit. You are required to calculat

Back end load: Redemption Price = NAV / (1 + back end load) Let 'X' be the back end load. ₹11.65 = ₹12 / (1 + X) 11.65 * (1 + X) = 12 11.65 + 11.65X = 12 11.65X = 12 - 11.65 11.65X = 0.35 X = 0.35 / 11.65 X = 0.03 Back-end load = 3% or ₹0.36 per unit (3% of ₹12 = ₹0.36)