Question

A person deposits Rs 1000 in the first month. Then every month he increases the monthly deposit by Rs 60. Use the principle of progression and calculate his total investment at the end of two years

Answer 1

Step-by-step explanation:

a = 1000

d = 60

n = 24

a24 = ?

an = a+(n-1)d

a24 = 1000+(24-1)60

a24 = 1000+23×60

a24 = ₹2,380