Mr Singh has saved 5000 this year .Next year he plans to save double amount he has saveed this year .He plans to continue saving

Mr Singh has saved 5000 this year .Next year he plans to save double amount he has saveed this year .He plans to continue saving in this manner for next four years.find the total ammount he will save at the end of fifth year​

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  1. Given : Mr Singh has saved 5000 this year .

    Next year he plans to save double amount he has saved this year .

    He plans to continue saving in this manner for next four years.

    To find : the total amount he will save at the end of fifth year​

    Solution:

    Saving on 1st year = 5000

    Saving on 2nd year = 5000 x 2 = 10000

    Saving on 3rd year = 10000 x 2 = 20000

    Saving on 4th year = 20000 x 2 = 40000

    Saving on 5th year = 40000 x 2 = 80000

    Total Saving = 5000 + 10000 + 20000 + 40000 + 80000

    =155000

    Using GP

    a = 5000 , r = 2 , n = 5

    Sₙ = a(rⁿ – 1)/(r – 1)

    = 5000 ( 2⁵ – 1) /(2 – 1)

    = 5000 ( 32 – 1)/ 1

    = 5000 ( 31)

    = 155000 Rs

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