Jaya invests in a new mutual fund. The fund averages 10% growth annually for the first three years, but it loses 30% of its value in the fourth year. At the end of four years, the value of the mutual fund is approximately what percent of the amount Jaya originally paid?  Select the correct option:  A) 93%  B) 90%  C) 88%  D) 85%  E) 80%
Let the initial amount be 100.   Since it grew on constant basis as 10% for three years = 100*1.1^3 = 11*11*1.1 = 132 [Taking 1.1 as 1]   It eroded by 30% = 132 * .7 = 92.something approximated to 93%   So, The correct answer will be (93%) 93%
<result>A</result>
Jaya invests in a new mutual fund. The fund averages 10% growth annually for the first three years, but it loses 30% of its value in the fourth year. At the end of four years, the value of the mutual fund is approximately what percent of the amount Jaya originally paid?