You can
put this solution on YOUR website!The number of chips is in geometric sequence (or geometric progression) where each term is 2 times the previous one (common ratio=2).
The nth question is worth

chips.
If the contestant answers the first n questions correctly, the number of accumulated chips will be the sum, S:

=

+

+

+

+ ..... +

+

Textbooks have formulas to calculate such sums, but I'd rather open my mind than a textbook.
Multiplying times 2:

=

+

+

+ ..... +

+

+

and subtracting the expression for S from the expression for 2S:

=

-

=

and

so the contestant has to aim for n+1=8, and answer the first 7 questions correctly.