A lady goes to a bank near her newly possessed home. The bank's policies are weird, but she decides to open the account anyhow with a certain amount. The policy is that at the end of each year, the total amount gets doubled and Rs. 65 is deducted from that amount. After 6 years, when the lady checks her account, the total amount is 0.
Can you find out what was the original amount that she had deposited in the bank?
Solution:
63.984375
Explanation:
This question is hypothetical because you cannot transact in fractions in bank account. The following is the solution:
Year Amount Interest and Deduction
Start 63.984375
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