Unique Bank Puzzle

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In a certain bank, a man deposits a certain amount. According to the bank policies, the amount will be 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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    Assuming that our hypothetical bank accepts amounts rounded off to two decimal places, the nearest possible initial amount must be Rs. 63.98. Starting with this amount, by the end of 6th year, the balance will be –0.28 (effectively zero).  (If started with Rs. 63.99, the final balance would be Rs. 0.36 (which is more than 0.)

    Initial Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
    63.98 62.96 60.92 56.84 48.68 32.36 -0.28
    Viji_Pinarayi Expert Answered on 5th February 2024.
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