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A person is entitled to receive an annual payment which for each year is less by one tenth of what it was for the year before.If the first payment is 100 find the maximum possible payment which he can receive however long he may live?

Asked by Topperlearning User 4th October 2016, 7:07 AM
Answered by Expert
Answer:

A c c o r d i n g space t o space t h e space q u e s t i o n space
F i r s t space p a y m e n t space i s space 100
S e c o n d space p a y m e n t space w i l l space 1 over 10 space l e s s space o f space f i r s t space p a y m e n t space i. e. space 90
T h i r d space p a y m e n t space w i l l space b e space 90 x 9 over 10 equals 81
S o space t h e space a n n u a l space p a y m e n t s space a r e space 100 comma 90 comma 81 comma... space w h i c h space a r e space i n space G P space w i t h space r equals 9 over 10
T h e r e f o r e space s u m space i s space 100 plus 90 plus 81 plus.....
fraction numerator 100 over denominator 1 minus begin display style bevelled 9 over 10 end style end fraction equals 1000
S o space h e space c a n space r e c e i v e space a space m a x i m u m space a m o u n t space o f space R s space 1000

Answered by Expert 4th October 2016, 9:07 AM
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