A contract on construction job specifies a penalty for delay of completion beyond acertain 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 thepreceding day. How much money the contractor has to pay as penalty, if he has delayedthe work by 30 days?
Given: a = 200, d = 50 and n = 30
We can find the penalty by using the sum of 30 terms:
= 15(400 + 1450)
= 15*1850
= 27750
Hence, he has to pay an amount of Rs. 27750 as penalty
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