a man say 500 rupees in the first month and increases his monthly savings by 100 every month fine he is savings in 12 month the total amounts saved in 12 months the minimum number of months required for his daughter saving to exceed 20000 rupees
Answer: (i) Savings in the 12th month = ₹ 1600, (ii) Total savings in 12 months = ₹ 12600, (iii) Minimum number of months to exceed ₹ 20000 = 17 months.
Step-by-step solution
Step 1: Identify the Arithmetic Progression parameters
The savings in consecutive months are . Since the difference between consecutive monthly savings is a constant ₹ , the savings form an arithmetic progression with first term and common difference .
Step 2: Find his savings in the 12th month
We use the term formula . For , substituting and gives . Therefore, his savings in the 12th month is ₹ .
Step 3: Calculate the total amount saved in 12 months
We use the sum formula . For , substituting and gives . Thus, the total amount saved in 12 months is ₹ .
Step 4: Set up the inequality for total savings to exceed ₹ 20000
Let be the number of months required for total savings to exceed ₹ . Expanding the sum gives , which simplifies to , or .
Step 5: Determine the minimum integer value of n
Solving the equation using the quadratic formula gives (since ). At , the total savings is exactly . Since the savings must strictly exceed ₹ , we require , which means the minimum integer number of months is .