Question

One person won $ 3,000 on their first lottery bet.
Fifteen days later he returned to play and won another $ 2,500. Excited about her good luck, she decided to bet $ 100 every 15 days on a constant basis for a certain time.
After 21 consecutive fortnightly bets without getting any prize, he decided not to bet anymore.
Determine the rate of return this person earned by entering the gaming world
let the calculation be at hand, excel no.

Answer 1

1st lottery bet = $3,000 2nd lottery bet = $ 2,500 Total income = $ 5,500 Assuming that the person invested $100 each on his/her 1st and 2nd bet, 1st Bet - $ 100 2nd Bet - $ 100 Nextß1 Bets - $ 100 * 21 = $ 2100 Total investment = $ 2,300 Total Gain = Total income - Total investment = $ 5,500 - $ 2,300 =$ 3,200 Total return = Total Gain / Total investment = $3,200/ $ 2,300 = 139%

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