Suppose you go to a company that pays 0.03 for the first day, 0.06 for the second day, 0.12 for the third day and so on. If the daily wage keeps doubling, what will your total income be for working 30 days ?

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Mar 3, 2018

Total income will be $32212254.69$ currency.

Explanation:

This is geometric progression series of which first term is

$a = 0.03$ and common ratio is $r = 2$ and total terms is $n = 30$

Sum is ${S}_{30} = \frac{a \left({r}^{n} - 1\right)}{r - 1} = \frac{0.03 \left({2}^{30} - 1\right)}{2 - 1}$ or

${S}_{30} = \left(0.03 \left({2}^{30} - 1\right)\right) = 32212254.69$

Total income will be $32212254.69$ currency. [Ans]