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

shweta mane
Guest

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

bobbym
Administrator
From: Bumpkinland
Registered: 2009-04-12
Posts: 88,714

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 agree with you regarding the satisfaction and importance of actually computing some numbers. I can't tell you how often I see time and money wasted because someone didn't bother to run the numbers.

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