Question

A parent places in the saving bank Rs 500 on his child's first birthday, Rs 1000 on his second, Rs 1500 on his third and so on increasing the amount by Rs 500 on each birthday. How much will he save up when the child reaches the sixteenth birthday, the latter inclusive?​

Answer 1

Explanation:

The formula to calculate 16th term of an arithematic progression is tn=a+(n-1). By using given formulae we can find out the money that the child's parent saved till his 16th birthday. After that the formula to calculate the sum to n terms of an AP id Sn= n/2[2a+(n-1)d]. By using the formula we can find out the sum.

Answer 2

The child will reach Rs 68,000 on his 16th birthday

Explanation:

The parent increases the amount by Rs 500 each birthday which means

1st: 500

2nd: 1,000

3rd: 1,500

4th: 2,000

5th: 2,500

6th: 3,000

7th: 3,500

8th: 4,000

9th: 4,500

10th: 5,000

11th: 5,500

12th: 6,000

13th: 6,500

14th: 7,000

15th: 7,500

16th: 8,000

and then you add all of those numbers together and it equals 68,000