If Ajit saves Rs. 400 more each year than he did the year before and i

1.	If Ajit saves Rs. 400 more each year than he did the year before and if he saves Rs. 2000 in the first year, after how many years will his savings be more than Rs.100000 altogether? (a) 19 years (b) 20 years (c) 21 years (d) 18 years
Answer» Correct option (a) 19 years Explanation: We need the sum of the series 2000 + 2400 + 2800 to cross 100000. Trying out the options, we can see that in 20 years the sum of his savings would be: 2000 + 2400 + 2800 +…+ 9600. The sum of the series would be 20 × 5800 = 116000. If we remove the 20th year we will get the saving for 19 years. The series would be 2000 + 2400 + 2800 + … + 9200. Sum of the series would be 116000 − 9600 = 106400. If we remove the 19th year’s savings the savings would be 106400 − 9200 which would go below 100000. Thus, after 19 years his savings would cross 100000.

If Ajit saves Rs. 400 more each year than he did the year before and if he saves Rs. 2000 in the first year, after how many years will his savings be more than Rs.100000 altogether? (a) 19 years (b) 20 years (c) 21 years (d) 18 years

Answer»

Correct option (a) 19 years

Explanation:

We need the sum of the series 2000 + 2400 + 2800 to cross 100000. Trying out the options, we can see that in 20 years the sum of his savings would be: 2000 + 2400 + 2800 +…+ 9600. The sum of the series would be 20 × 5800 = 116000. If we remove the 20th year we will get the saving for 19 years. The series would be 2000 + 2400 + 2800 + … + 9200. Sum of the series would be 116000 − 9600 = 106400. If we remove the 19th year’s savings the savings would be 106400 − 9200 which would go below 100000. Thus, after 19 years his savings would cross 100000.

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