Question

A man saves Rs 32,000 during first year Rs 36,000 in the next year and Rs 40,000 in the third year. if he continues his savings in this sequence in how many years will he save Rs 2,00,000.

Answer 1

The savings are increased in arithmetic sequence.

The nth term of arithmetic sequence

= a1 + (n-1)*d

200000= 32000 + (n-1)*4000

200000 - 32000 = (n-1)*4000

168000 = (n-1) * 4000

168000/4000 = (n-1)

n-1 = 42

n = 42+1

= 43

In the 43rd year the savings will become 2,00,000 rupees