If Raj deposits 92 dollars in the first month, and then 5 dollars in each of…
2024
If Raj deposits 92 dollars in the first month, and then 5 dollars in each of the next five months, what is the total amount he would have in his account?
Answer: B. 117 dollars — Concept: When an account starts with an opening deposit and then receives an equal deposit every month for a number of months, the final balance equals the…
- A.
115 dollars
- B.
117 dollars
- C.
114 dollars
- D.
118 dollars
Show answer & explanation
Correct answer: B
Concept: When an account starts with an opening deposit and then receives an equal deposit every month for a number of months, the final balance equals the opening amount plus the sum of all the equal monthly deposits (sum = monthly deposit amount times number of months).
Application:
Opening deposit in the first month = 92 dollars.
Equal deposit for each of the next five months = 5 dollars.
Total of the five monthly deposits = 5 × 5 = 25 dollars.
Final balance = opening deposit + total monthly deposits = 92 + 25 = 117 dollars.
Cross-check: Adding month by month confirms it: 92, then 97, 102, 107, 112, 117 after the five deposits, matching the direct calculation.
So the total amount in Raj's account is 117 dollars.