CMA Foundation · Fundamentals of Business Mathematics and Statistics · Arithmetic Progression and Geometric Progression
Ravi Traders starts a savings plan by depositing Rs 2,000 in the first month and raises the deposit by Rs 500 every month after that. What is the total amount deposited over 12 months?
The deposits form an arithmetic progression with first term 2,000, common difference 500 and 12 terms. Using the sum formula n/2 [2a + (n-1)d], the total is 6 x 9,500, which equals Rs 57,000 deposited over the 12 months.
- ARs 48,000
- BRs 51,000
- CRs 54,000Correct
- DRs 57,000
Explanation
The deposits form an AP with a = 2,000, d = 500, n = 12. Sum = n/2 [2a + (n-1)d] = 6 [4,000 + 5,500] = 6 x 9,500 = Rs 57,000. Wait check: 6 x 9,500 = 57,000, so the key is Rs 57,000.
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