Business MathematicsNEB 2080 (old course)
a) A parent places in the saving bank Rs. 500 on his child's first birth, 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…
6- a) A parent places in the saving bank Rs. 500 on his child's first birth, 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 ? [3]
- b) Insert 4 geometric means between and [3]
Answer
a) Savings Calculation Using Arithmetic Progression (AP)
Given:
- The parent deposits money in an arithmetic progression (AP) on each birthday.
- First deposit (a₁) = Rs. 500 (on the 1st birthday)
- Second deposit (a₂) = Rs. 1000 (on the 2nd birthday)
- Third deposit (a₃) = Rs. 1500 (on the 3rd birthday)
- Common difference (d) = Rs. 500 (since each deposit increases by Rs. 500)
- Number of deposits (n) = 16 (from 1st to 16th birthday, inclusive)
Objective: Find the total savings after 16 deposits.
Step 1: Identify the AP Parameters
The deposits form an arithmetic sequence (AP) where:
- First term,
- Common difference,
- Number of terms,
The general form of an AP is:
Step 2: Find the Last Term (a₁₆)
Using the formula for the -th term of an AP: So, the deposit on the 16th birthday is Rs. 7500.
Step 3: Calculate the Total Savings (Sum of AP)
The sum of the first terms of an AP is given by: Substituting the known values:
Final Answer: The parent will have saved a total of Rs. 64,000 by the child’s 16th birthday.
b) Inserting 4 Geometric Means Between and
Given:
- First term () =
- Last term () = (converted to improper fraction)
- Number of geometric means to insert = 4
- Total number of terms in the sequence =
Objective: Find the 4 geometric means between and .
Step 1: Understand the Geometric Sequence (GP)
A geometric sequence has the form: where:
- = first term
- = common ratio
- = total number of terms
Here, the last term () is the 6th term:
Step 2: Solve for the Common Ratio ()
(Since and , )
Step 3: Write the Complete Geometric Sequence
The sequence with 4 geometric means inserted will have 6 terms:
Final Answer: The four geometric means between and are: 1, , , (or 1, 1.5, 2.25, 3.375 in decimal form).
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