An intern receives a monthly stipend that increases by a fixed amount every month
MATHEMATICS · Multi-part · A Level · Mathematics · Sequences and series · Sequences and series
Problem
An intern receives a monthly stipend that increases by a fixed amount every month. In the 4th month she is paid ₹7,800 and in the 13th month she is paid ₹10,500.
(i) Assuming the stipends form an arithmetic progression, determine her stipend in the first month and the monthly increase.
(ii) Calculate the total stipend she receives in the first 18 months.
(iii) After how many months will her stipend first exceed ₹12,000? Justify your answer.