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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: 107,133

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.
If it ain't broke, fix it until it is.
Always satisfy the Prime Directive of getting the right answer above all else.


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