Greeting all,

I have this slippery problem with an if else statement. In my if statement the code originally worked fine until I added the logical 'Or' , and now whether I enter 'y' or 'n' the code executes as if I enter a 'yes' response. All help appreciated, thanks!

Code:
#include <stdio.h>
#include <stdlib.h>

FILE *fptr;

int main()
{

   char ansr;
   float amnt = 0;
   
   fptr = fopen("MOREDATA.TXT","r+"); 		 /* Opens for output */

	if (fptr == 0)
	   {printf("There was an error opening file");}

	else

	  {printf("Would you like to enter a beginning balance?\n");
	      printf("Enter 'Y' for yes or 'N' for no\n");
	        scanf(" %c", &ansr);}
	 
	   if (ansr == 'Y' || 'y')
	      { printf("Enter amount - ");
		  scanf(" %f",&amnt);

		printf("Your beginning balance is %.2f\n", amnt);

		fprintf(fptr,"%.2f",amnt);/* Save the amount to the disk file */
	       }

	   else
	   /*		if (ansr == 'N' || 'n')		*/
	      { fprintf(fptr,"1000000");
	       }
	       fclose(fptr);	/* Always close your files */

return 0;
}

Still "eating the elephant one byte at a time" - author not known