The Classic Bank Riddle Solution - 8 November
In a certain bank, a man deposits a certain amount. According to the bank policies, the amount will get doubled up in a year but as the service charge, they will also deduct Rs. 65 by the end of every year.
If after the 6th year, the amount becomes 0, what do you think is the original amount he deposited in the bank?
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SolutionThis is totally impossible in real because you do not pay in bank in fractions. However, the only possible answer is explained below:
Year Amount Interest and Deduction
Y1 End 62.968750 63.984375 * 2 - 65
Y2 End 60.937500 62.96875* 2 - 65
Y3 End 56.875000 60.9375 * 2 - 65
Y4 End 48.750000 56.875 * 2 - 65
Y5 End 32.500000 48.75 * 2 - 65
Y6 End 0.000000 32.5 * 2 - 65 = 0
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