SOLUTION: The leading mall in the Philippines has launched its raffle draw promo as part of the celebration of its 24th anniversary. A customer is entitled to one raffle entry for every sing

Question 1169268: The leading mall in the Philippines has launched its raffle draw promo as part of the celebration of its 24th anniversary. A customer is entitled to one raffle entry for every single receipt purchase of P2,000. A total of 24 winners will be drawn--two winners each month from January to December. The winners for the month of January will be given P50,000 each. The prize increases by P50,000 monthly. How much money was allotted by the mall for the raffle draw prizes?
Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!

The month-by-month sequence, in units of P100,000, is

1, 2, 3, ..., 11, 12

The sum is (number of terms) times (average of first and last):

ANSWER: 78 times P100,000, or P7,800,000.

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