Ashifur August 8, 2023 - 16:35
Problem: Interest rate in 1996 was increased by 10% of that of previous year. In 1997 it wasdecreased by 10% of that of the previous year. Compared to 1995, what is the interestrate in 1997?

View all: ISLAMI BANK(AB) | WRITTEN QUESTION (MATH) SOLVE | 1995

Correct Answer: Ans.1%

Explanation:

Let, the interest rate in 1995 was Tk. 100

So, interest rate in 1996 is (100 +10% of 100) = Tk. 110

So, in 1997 the interest rate = Tk. (110-$\frac{110\times 10}{100}$)= Tk. 99

So, the interest rate decreased = (100-99) = 1%

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