Question 1104284: please help me solve this mathematic finance question
Water is leaking from a tank at the rate of 10% a day.if there are 6000 litres today, find
(a)how many litres will leak during the 5th day
(b) how many litres will leak during the 5 days?
Found 2 solutions by KMST, Alan3354:
Answer by KMST(5328)   (Show Source):
You can put this solution on YOUR website! If 10% of the water initially in the tank is lost in one day,
the water lost in a day is 
of the water in the tank at the beginning of that day
(or at the end of the day before).
The next day the tank will hold a fraction of the water it had at the end of the day before.
What fraction?
So, by the end of the first day, the volume of water, in litres, in the tank will be
 .
By the end of the second day, it will be  .
It will be  by the end of the third day, and so on.
By the end of the fourth day, the volume of water, in litres, in the tank will be
 .
Then, the volume of water, in litres, that will leak during the fifth day is 10% of that, or
 .
By the end of the fifth day, the tank will hold
 .
If the tank contained  of water at the beginning,
over the course of the five days it would have lost
 of water.
Answer by Alan3354(69443)  (Show Source):
You can put this solution on YOUR website! please help me solve this mathematic finance question
Water is leaking from a tank at the rate of 10% a day.if there are 6000 litres today, find
(a)how many litres will leak during the 5th day
90% remains after each day.
After 4 days, 0.9^4 remains --> 6000*0.6561 = 3936.6 liters
10% of that will leak of the 5th day = 393.66 liters
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(b) how many litres will leak during the 5 days?
6000 - 6000*0.9^5 liters.
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