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Arithmetic Progressions
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30/05/2021 12:26 pm
Topic starter
In which of the following situations, does the list of numbers involved make an arithmetic progression and why?
The amount of money in the account every year, when Rs 10000 is deposited at compound interest at 8% per annum.
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30/05/2021 12:27 pm
We know that if Rs. P is deposited at r % compound interest per annum for n years, the amount of money will be:
P(1+r/100)n
Therefore, after each year, the amount of money will be;
10000(1+8/100), 10000(1+8/100)2, 10000(1+8/100)3……
Clearly, the terms of this series do not have the common difference between them. Therefore, this is not an A.P.