If 50 Paisa is the interest of 50 Paisa in 50 days. What is the daily interest?

Created: 6 months ago | Updated: 5 days ago
Admission Bangladesh University of Professionals (BUP) Faculty of Business Studies(FBS) 2019-2020 উচ্চতর গণিত
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Let's assume the interest is calculated on a daily basis, so the time is in days.

I = Prt 50 Paisa = 50 Paisar50

Simplifying:

r = 50 Paisa / (50 Paisa * 50) r = 0.01 or 1% per day

Therefore, the daily interest rate is 1%.

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