Rahul Mehta Gandhinagar LsCandidate
A post to explain religious conversion in India, and how CoBhApSwaRa-workers are indirectly helping conversions :
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A moneylender A loans Rs 20000 to B. The conditions are --
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1. B pays Rs 5000 interest on day one itself. So B gets Rs 15000
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2. B has to pay Rs 100 for next 200 days
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What is annual rate of interest per year?
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PLEASE NOTE THAT PRINCIPAL CHANGES EVERYDAY !!
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Please note that there is no such thing as flat interest. The interest is always "cut interest" i.e. "kapat vyaj". Also, interest in business world is never simple interest --- it is always compound interest. Simple interest is only in textbooks and sometimes while collecting fines. Also, interest is compounded daily or monthly or quarterly. So please state scenario you are considering.
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Hint : use excel
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And AFTER you have calculated interest rates, please explain how this post relates to conversions and how CoBhApSwaRa-workers are indirectly helping conversions.Please dont post comments BEFORE calculating interest rates.