A man buys Bank's cash certificates every year for a value exceeding ...

A man buys Bank's cash certificates every year for a value exceeding the last year's purchase by Rs 400. After 24 years, he finds that the total value of the certificate purchased by him is Rs 144,000. What is the value of the certificates purchased by him in the 13th year?

Your Answer

This is an Arithmetic Progression question based on sum S= (n/2)(2a+(n-1)d) So S=144000 n=24 d=400 a=? 144000=24÷2(2a+(24-1)400) 144000/12=2a+23*400 12000=2a+9200 2800=2a a=1400 Then cost of 13th certificate will be a(nth term)=a+(n-1)d a(13th term)=1400+(12*400) a=1400+4800 a(13 term)=6200 Value of certificate purchased by him at the end of 13th year will be 6200

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