SOLUTION: 1) A man had two employments on the same day with the following salary condition:The first employment is #300000 per annum with annual imcrement of #12000. The second employment wi
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Question 1199027: 1) A man had two employments on the same day with the following salary condition:The first employment is #300000 per annum with annual imcrement of #12000. The second employment with annual salary of #280000 and the annual increment of #15000. The man decided that he will accept the employment that will give him more earnings in the first 15years of service. Which employment should he accept?
2)A man earns a salary of #2500 per annum. If a rise of #500 is given at the end of each year, find
a) the total amount the man will earn in 18years
b) the amount the man will earn in the 20th year
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
1) A man had two employments on the same day with the following salary condition:The first employment is #300000 per annum with annual imcrement of #12000. The second employment with annual salary of #280000 and the annual increment of #15000. The man decided that he will accept the employment that will give him more earnings in the first 15years of service. Which employment should he accept?
First employment
$300000 per annum with annual imcrement of $12000.
Time period considered = 15 years
The yearly increment is constant =12000
Using
Arithmetic sequence formula for earnings at end of 15 years
a=300000 d=12000, n=15
S15 = 5,760,000
Second employment
280000 and the annual increment of #15000
a= 280000 d=15000, n=15
S15 = (15/2)*(2*280000+(15-1)*15000
S(15)= 5,775,000
Now he can decide
The second employment offers higher earnings in the first 15 years
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