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#1 2013-07-17 18:52:26

shweta mane

maths puzzle about interest rate

We were given a puzzle to solve in our tution. But the answer was not accurate. So I want to ask you to help me
Situation is as follows:
A vegetable seller takes Rs.100 (Indian rupee) from a creditor and at the end of the day would pay him Rs.101 in return. He would do the same everyday. So what would be the rate of interest annually?

#2 2013-07-18 16:23:10

From: Bumpkinland
Registered: 2009-04-12
Posts: 83,138

Re: maths puzzle about interest rate

Hi shweta mane;

Welcome to the forum. I do not understand the question, could you clarify what you want?

In mathematics, you don't understand things. You just get used to them.
I have the result, but I do not yet know how to get it.
All physicists, and a good many quite respectable mathematicians are contemptuous about proof.


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