MATHEMATICS · Multi-part · A Level · Mathematics · Sequences and series · Sequences and series
Problem
Two saving plans are offered by a bank.
Plan X: A depositor saves ₹1000 in the first month and increases the monthly saving by ₹150 each month.
Plan Y: A depositor saves ₹800 in the first month and increases the monthly saving by ₹200 each month.
Answer the following questions.
(i) Find the amount deposited in the 12th month under each plan.
(ii) Find the total amount deposited during the first 12 months under each plan and state which plan gives the larger total, by how much.
(iii) Determine the month in which, for the first time, the amount deposited in a single month under Plan Y exceeds that under Plan X.