A contract on construction job specifies a penalty for delay of completion beyond a certain date as follows:rupees 200 for the first day, rupees 250 for the secondary rupees,300 for the third day, etc;at the penalty for each succeeding day being rupees 50 more than for the preceding day. How much does the delay of 30 days cost the contractor ?
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Answer:
A delay of 30 days will cost the contractor of Rs. 27750.
Step-by-step explanation:
Since the penalty for each succeeding day is Rs 50 more than for the preceding day. Therefore, amount of penalty for different days forms an A.P. with first a (=200) and common difference d (=50).
Sn = n/2 [ 2a + (n - 1)d]
Required sum = 30/2 { 2 (200) + (30 - 1)50}
= 15( 400 + 29 × 50)
= 15 (400 +1450)
= 15 × 1850
= 27750
Thus, a delay of 30 days will cost the contractor of Rs. 27750
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