If an investor earns interest of Tk. 1 per day at an interest rate of 4(1/18)% per annum, what will be his total investment?
Solution
Correct Answer: Option E
an investor earns 1 tk in 1 day an investor earns 365 tk in 365 day at interest rate 73/18% then, interest is 73/18 tk when capital is 100 tk interest is 1 tk when capital is 100 x18/73 tk interest 365 tk when capital is 100x18x365/73 tk=900 tk
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