If the NAV of a unit in mutual fund scheme is Rupees 9.65, then how manu units can be purchased for Rupees 2895 ?

Options

A. 290
B. 300
C. 305
D. 310

Explanation

To find out how many units of a mutual fund can be purchased with a given amount of money, we can use the formula:

\[ \text{Number of Units} = \frac{\text{Total Amount}}{\text{NAV of One Unit}} \]

Given:
- NAV of one unit = ₹9.65
- Total Amount = ₹2895

Now, we can substitute the values into the formula:

1. **Calculate the Number of Units:**
\[ \text{Number of Units} = \frac{2895}{9.65} \]

2. **Perform the Division:**
\[ \text{Number of Units} = 300 \]

Thus, you can purchase **300 units** of the mutual fund scheme for ₹2895.