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Rajat saves Rs. 5000 in the first month and increases his saving amount by Rs. 100 every month. What will be the total amount of his savings at the end of 1 year?

Rajat saves Rs. 5000 in the first month and increases his saving amount by Rs. 100 every month. What will be the total amount of his savings at the end of 1 year? Correct Answer Rs. 66600

Saving amount in 1st month = Rs. 5000

Saving amount in 2nd month = Rs. 5100

Saving amount in 3rd month = Rs. 5200, and so on till 12th month.

5000, 5100, 5200, …

Thus, this series forms an AP with first term, a = 5000, common difference, d = 100, number of terms, n = 12

Total saving amount after 1 year

= n/2(2a + (n - 1) d)

= 12/2(2 × 5000 + 11 × 100)

= 6(10000 + 1100)

= 6(11100)

= 66600

Hence, ‘Rs. 66600’ is the correct answer.

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