18 Replies
@Apu
Note for OP
+solved @user to close the thread when your doubt is solved. Mention the user who helped you solve the doubt. This will be added to their stats.I effectively added the interest of 10K 0.5% + 20K 1% and so on, giving only 1 year time to each transaction.
Is that the right way to solve this sum?
Can anyone help me out?
@Apu
i think the answer should be 2500
we dont count the first and the last year since in 2024 she will get the income at the end of the year so its basically the next year and for 2029 she will get the income at the end of the year and till then 5 years will be over so we dont count that. if you add the amount, it will be 2500.
My doubt is: why have you taken 4 years on the first one, 3 years on the second, 2 on the third and 1 on the fourth?
When the principal is increasing along with the interest rate, i would take the interest that increased for that one year right?
why not like this? In 2025 she will get 10K for 0.5% but it will only be that much for that year cuz both the principal and interest rate are going to increase, and so the next year she will get interest for the new principal and the new rate
okay so basically
if you see the second line in the question, it says
...and the fixed simple interest offered by the bank on new depositsso basically shes depositing every year a new amount
Aww fuck bruh, yeah its new deposits damn
A dumbass silly mistake 💀 🥲
I get it.. i get the solution now
if she'd just deposited at the start of the year, you were right at your end but if she deposits every year, the simple interest would count for all the years beyond that.
for example: if i take a loan for 10 years BUT if i deposit an amount every year, there will be a new year of interest for that amount.
haha gg 🙂
also ipmat? first time seeing someone prepping for it
Yeahh... Its an exam for BBA and MBA in IIM Indore and Rohtak... easier than CAT and less students which write the exam as well so yeah thought to keep it as an option as well
Yeahhhh got it. Appreciate it!!
yeah yeah ik what its about, have that in mind asw for myself
Oh great, its a good exam. A lot to think tho 💀 which sometimes is kinda hard ngl
yeppp the questions are brain storming
and interesting too. Eitherways thanks for the help
welcs
+solved @trin
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