A contract on construction job specifies a penalty for delay of completion beyond a certain date as follows: Rs. 200 for the first day, Rs. 250 for the second day, Rs. 300 for the third day, etc., the penalty for each succeeding day being Rs. 50 more than for the preceding day. How much money the contractor has to pay as penalty, if he has delayed the work by 30 days.
A contract on construction job specifies a penalty for delay of completion beyond a certain date as follows: Rs. 200 for the first day, Rs. 250 for the second day, Rs. 300 for the third day, etc., the penalty for each succeeding day being Rs. 50 more than for the preceding day. How much money the contractor has to pay as penalty, if he has delayed the work by 30 days.

Solution:

The given penalties are in the form of an A.P. having the first term as 200 and the common difference as 50, as can be seen.

As a result, a = 200 and d = 50

If the contractor delays the work by 30 days, a penalty must be paid. = S30

Using the formula of sum of nth term, we know,

Sn = n/2[2a+(n -1)d]

As a result,

S30= 30/2[2(200)+(30 – 1)50]

= 15[400+1450]

= 15(1850)

= 27750

As a result, Rs 27750 has to be paid by the contractor as penalty.