Question

In a fund raising lottery,42% of the money collected is given as cash prizes.There are 8 cash prizes altogether.The first prize winner get #3500, the 2nd get #3100, the 3rd get #2700 and so on in arithmetical progression.
Required
(a)how much money does the 8th person get?
(b)how much prize money is there altogether?
(c)how much money was raised for the fund?

Answer 1

Your AP is such that a = 3500, d = -400
Person(8) = term(8) = a + 7d = 3500 + 7(-400) = 700

b) the 9th person would get 300, making that the last prize.
so total prize money is the sum of 9 terms
= (9/2)(first + last) = (9/2)(3500 + 300) = 17100

c) this represents 42% of the total raised
so .42x = 17100
x = 17100/.42 = ...

Answer 2

Very good

Answer 3

Nice