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Mathematical Question for the intelligent folk on here...

marko69

24 Nov 15 19:14

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Date Joined: 05 Oct 09

| Topic/replies: 7,889 | Blogger: marko69's blog

If you had a starting bank of £100 and backed a 1.01 with full bank (Initially £100) for 300 consecutive days, what would your end bank be?????

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Replies: 46

By:

s.kenbo When: 24 Nov 15 19:15

Bust!

By:

marko69 When: 24 Nov 15 19:16

kenbo, odds on that would happen but lets say you succeeded? Would it be enough to buy a decent lunch?

By:

s.kenbo When: 24 Nov 15 19:17

£1978?

By:

s.kenbo When: 24 Nov 15 19:18

100 time 1.01 to the power of 300?

I'm good at sums but poor at mathematics, if that makes sense?

By:

marko69 When: 24 Nov 15 19:19

is that all?

By:

salmon spray When: 24 Nov 15 19:19

I suspect anybody with Maths "O" level should be able to give you the algebraic formula but I can't.
However I suspect it's a lot more than you think assuming they all won.

By:

s.kenbo When: 24 Nov 15 19:19

I don't know. I thought you were the accountant?

By:

marko69 When: 24 Nov 15 19:20

£1978 seems very little, try higher?

By:

s.kenbo When: 24 Nov 15 19:21

It was higher than I thought it'd be.

By:

marko69 When: 24 Nov 15 19:21

Yes but I want you guys to think for a minute or 2, very quiet on here and no b1tching goin on

By:

s.kenbo When: 24 Nov 15 19:22

Surely it's 100x1.01 to the power of 300? I got £1978 so if that's wrong then I wouldn't be able to do it without using a calculator 300 times!

By:

marko69 When: 24 Nov 15 19:24

try the calculator 300 times

By:

s.kenbo When: 24 Nov 15 19:25

I'll be then at 12.24am!

By:

s.kenbo When: 24 Nov 15 19:25

back

By:

marko69 When: 24 Nov 15 19:29

MIGHT BE LESS MIGHT BE MORE

By:

STATSMAN When: 24 Nov 15 19:30

1,978.84 give a penny or two

By:

marko69 When: 24 Nov 15 19:31

commission 5% ?

By:

s.kenbo When: 24 Nov 15 19:33

I must be right then if Stat's got the same answer!

By:

s.kenbo When: 24 Nov 15 19:35

£1705.67 imo

By:

Breedingmad When: 24 Nov 15 19:36

£2006.05

By:

s.kenbo When: 24 Nov 15 19:36

It can't be more!

By:

salmon spray When: 24 Nov 15 19:38

I think it's quite a bit more.

By:

Breedingmad When: 24 Nov 15 19:41

Used a compound interest calculator but put in 300 years 1 % interest and that was the result.

By:

s.kenbo When: 24 Nov 15 19:41

Some maths whizz will be along shortly to less us know. I'm sticking to my answer though!!

By:

s.kenbo When: 24 Nov 15 19:41

That's a good way actually, BM.

By:

marko69 When: 24 Nov 15 19:42

s.kenbo 24 Nov 15 19:35 Joined: 05 Aug 12 | Topic/replies: 8,289 | Blogger: s.kenbo's blog
£1705.67 imo

By:

s.kenbo When: 24 Nov 15 19:43

I'm the winner!!!!!!!!!!!!!

By:

marko69 When: 24 Nov 15 19:45

£1705.68 to be precise but we can put the penny in Sir_Bonds Real betfair account and that will increase his balance to £0.01

By:

STATSMAN When: 24 Nov 15 19:49

£1,689.63

By:

mice_elf_and_eye When: 24 Nov 15 19:49

Simply type what is 100 x 1.0095 to the power of 300 into Google and
it will spit back the answer 1705.67775

By:

s.kenbo When: 24 Nov 15 19:50

That's exactly what I did.

By:

Breedingmad When: 24 Nov 15 19:51

Tried another compound interest calculator is says £1978.85..

By:

STATSMAN When: 24 Nov 15 19:52

^ That ^ was for 299 days as I don't bet on my Bday

By:

marko69 When: 24 Nov 15 19:53

By:

STATSMAN When: 24 Nov 15 19:54

You can do it on a spread sheet

Price	Stake	Winnings	5% Com	Total returns
0.01	£100.00	£1.00	£0.05	£100.95
0.01	£100.95	£1.01	£0.05	£101.91
0.01	£101.91	£1.02	£0.05	£102.88
0.01	£102.88	£1.03	£0.05	£103.85
0.01	£103.85	£1.04	£0.05	£104.84
0.01	£104.84	£1.05	£0.05	£105.84
0.01	£105.84	£1.06	£0.05	£106.84
0.01	£106.84	£1.07	£0.05	£107.86
0.01	£107.86	£1.08	£0.05	£108.88
0.01	£108.88	£1.09	£0.05	£109.92
0.01	£109.92	£1.10	£0.05	£110.96
0.01	£110.96	£1.11	£0.06	£112.01
0.01	£112.01	£1.12	£0.06	£113.08
0.01	£113.08	£1.13	£0.06	£114.15
0.01	£114.15	£1.14	£0.06	£115.24
0.01	£115.24	£1.15	£0.06	£116.33
0.01	£116.33	£1.16	£0.06	£117.44
0.01	£117.44	£1.17	£0.06	£118.55
0.01	£118.55	£1.19	£0.06	£119.68
0.01	£119.68	£1.20	£0.06	£120.82
0.01	£120.82	£1.21	£0.06	£121.96
0.01	£121.96	£1.22	£0.06	£123.12
0.01	£123.12	£1.23	£0.06	£124.29

By:

Breedingmad When: 24 Nov 15 19:58

I didn't include commission

By:

STATSMAN When: 24 Nov 15 20:05

kenbo/mice_elf_and_eye have the easier option mind

By:

bigmart When: 24 Nov 15 21:00

kembo its not 300x 1.01 the stake is going up 100 on at 1.01 = 101 its increasing with every win less commision

By:

salmon spray When: 25 Nov 15 09:42

I think mart is right the way the question is phrased which is why I think the answer is a lot more than the figures being quoted. It's equivalent to the difference between compound and simple interest.