Arithmetic progression 8\ A construction company will be penalized each week of delay in construction for a  large mall. The penalty will be OMR 1500 for the first week and will increase by OMR  250 for each subsequent week. The maximum amount which the company can pay  toward penalty is OMR 4000 per week.  a) Determine the penalty amount of the 5th week of delay. b) What is the total amount of penalty until the 6th week of delay? c) Find the maximum number of weeks by which the completion of work can be  delayed?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Arithmetic progression

8\ A construction company will be penalized each week of delay in construction for a 
large mall. The penalty will be OMR 1500 for the first week and will increase by OMR 
250 for each subsequent week. The maximum amount which the company can pay 
toward penalty is OMR 4000 per week. 
a) Determine the penalty amount of the 5th week of delay.
b) What is the total amount of penalty until the 6th week of delay?
c) Find the maximum number of weeks by which the completion of work can be 
delayed?

Expert Solution
Step 1

An arithmetic progression or arithmetic sequence is a sequence of numbers such that the difference between the consecutive terms is constant.

for example if we have to find the nth term in an AP then it can be find out with the help of below formula

an = a + (n − 1) × d

Whereas a = first term

n = number of term in AP

d = common difference 

 

 

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