In January a firm produced 1000 units of a certain commodity, the firm is planning to decrease the production by 5% every month starting February. The monthly production sequence will be: 1000, 1000(0.95)1 , 1000(0.95)2 , … What will be the total number of units produced during an entire year (at the end of one year) approximately? a. 9733 units. b. 9414 units. c. 9193 units. d. 569 units.
Answers
Given : In January a firm produced 1000 units of a certain commodity, the firm is planning to decrease the production by 5% every month starting February.
The monthly production sequence will be: 1000, 1000(0.95)¹ , 1000(0.95)² ,
To Find : the total number of units produced during an entire year (at the end of one year) approximately
a. 9733 units. b. 9414 units. c. 9193 units. d. 569 units.
Solution:
This is an GP
where a = 1000
r = 0.95
n = 12
as there are 12 months in a years
Sₙ = a( 1 - rⁿ )/(1 - r)
=> S = 1000 ( 1 - 0.95¹²)/(1 - 0.95)
=> S = 20000 ( 1 - 0.95¹²)
=>S = 9,192.8
9193 units.
Hence 9193 units. produced during an entire year approximately
learn More:
In an infinite g.P. Each term is equal to three times the sum of all the ...
brainly.in/question/9079152
In an infinite gp series the first term is p and infinite sum is s then p ...
brainly.in/question/12999165