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A man saves $10 per month. In each of the next 24 months, he saved $10

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Joined: 02 Sep 2009
Posts: 58453
A man saves $10 per month. In each of the next 24 months, he saved $10  [#permalink]

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New post 24 Sep 2018, 00:18
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

69% (01:43) correct 31% (02:08) wrong based on 42 sessions

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VP
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Joined: 31 Oct 2013
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Concentration: Accounting, Finance
GPA: 3.68
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Re: A man saves $10 per month. In each of the next 24 months, he saved $10  [#permalink]

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New post 24 Sep 2018, 00:49
Bunuel wrote:
A man saves $10 per month. In each of the next 24 months, he saved $10 more than he saved in the previous month. What is the total amount he saved during the two-year period?

(A) $ 1800
(B) $ 2400
(C) $ 3000
(D) $ 3600
(E) $ 4800



In next 24 months he saved $ 10 more than he saved in previous month.

10...20....30.......40........50...........so on

10 ( 1 + 2 + 3 + 4 + 5 .............+24)

10( 25*12)

= 3000

The best answer is C.
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Re: A man saves $10 per month. In each of the next 24 months, he saved $10  [#permalink]

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New post 27 Sep 2018, 08:49
Another aproach would be to use Arithmetic Progression (AP).

The Sum of an AP is given by \(= \frac{n}{2} (2a + (n-1)d)\)

\(= \frac{24}{2} (2*10 + (24-1)10)\)

\(= 12*(20+230)\)

\(= 3000\)
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Re: A man saves $10 per month. In each of the next 24 months, he saved $10  [#permalink]

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New post 27 Sep 2018, 16:06
Bunuel wrote:
A man saves $10 per month. In each of the next 24 months, he saved $10 more than he saved in the previous month. What is the total amount he saved during the two-year period?

(A) $ 1800
(B) $ 2400
(C) $ 3000
(D) $ 3600
(E) $ 4800


first month he saved 10 next 20 third 30 ............. on 24th month he saves 240.

we know [first term + last term/2] * number of terms in the sequence
10+240/2*24

C--- 3000
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Re: A man saves $10 per month. In each of the next 24 months, he saved $10  [#permalink]

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New post 02 Oct 2018, 19:53
Bunuel wrote:
A man saves $10 per month. In each of the next 24 months, he saved $10 more than he saved in the previous month. What is the total amount he saved during the two-year period?

(A) $ 1800
(B) $ 2400
(C) $ 3000
(D) $ 3600
(E) $ 4800


The amount saved each month is an equally-spaced set: {10, 20, 30, 40, …, 240}. The amount of money saved in the first month is $10 and the amount saved in the 24th month is 10 x 24 = $240.

For an evenly-spaced set, the average of all items in the set is the average of the first and last values in the set. Thus, the average saved is (10 + 240)/2 = $125 per month. Since there are 24 months in the two-year period, he saved a total of 125 x 24 = $3000.

Answer: C
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Re: A man saves $10 per month. In each of the next 24 months, he saved $10   [#permalink] 02 Oct 2018, 19:53
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