Exam-Style Problem

โฌ… Back to Subchapter
Browsing as Guest. Progress, bookmarks and attempts are disabled. Log in to track your work.
June 2011 p11 q8
805

A television quiz show takes place every day. On day 1 the prize money is $1000. If this is not won the prize money is increased for day 2. The prize money is increased in a similar way every day until it is won. The television company considered the following two different models for increasing the prize money.

Model 1: Increase the prize money by $1000 each day.

Model 2: Increase the prize money by 10% each day.

On each day that the prize money is not won the television company makes a donation to charity. The amount donated is 5% of the value of the prize on that day. After 40 days the prize money has still not been won. Calculate the total amount donated to charity

(i) if Model 1 is used,

(ii) if Model 2 is used.

Log in to record attempts.
โฌ… Back to Subchapter