SOLUTION: An oil company bores a hole 80m deep. Estimate the cost of boring if the cost is £30 for drilling the first meter with an Increase in cost of £2 per meter for each Succeeding m

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Question 1162895: An oil company bores a hole 80m deep. Estimate the cost of boring if the
cost is £30 for drilling the first meter with an Increase in cost of £2 per
meter for each Succeeding meter.
Found 2 solutions by ikleyn, greenestamps:
Answer by ikleyn(52858) About Me  (Show Source):
You can put this solution on YOUR website!
.

Sum of the first 80 terms of an arithmetic progression with the first term of 30 and the common difference of 2.

For introductory lessons on arithmetic progressions see
    - Arithmetic progressions
    - The proofs of the formulas for arithmetic progressions
    - Problems on arithmetic progressions
    - Word problems on arithmetic progressions
in this site.

Also,  you have this free of charge online textbook in ALGEBRA-II in this site
    - ALGEBRA-II - YOUR ONLINE TEXTBOOK.

The referred lessons are the part of this online textbook under the topic "Arithmetic progressions".


Save the link to this textbook together with its description

Free of charge online textbook in ALGEBRA-II
https://www.algebra.com/algebra/homework/complex/ALGEBRA-II-YOUR-ONLINE-TEXTBOOK.lesson

into your archive and use when it is needed.


Answer by greenestamps(13203) About Me  (Show Source):
You can put this solution on YOUR website!


Cost of first meter: £30
Cost of 80th meter: £30+79(£2) = £188
Average cost per meter: (£30+£188)/2
Total cost: 80 times the average cost per meter