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Dear Student,
Please find below the solution to your problem.
Savings are:
200,200,200,240,280,.......uptonterms
But 200,240,280,......(n−2) terms forms an A.P
Since, sum of n terms of an AP =Sn=2n[2a+(n−1)d], where first term is a and common difference d
∴ According to question
400+2n−2[2(200)+(n−2−1)40]=11040 ......Sum =11040
⇒400+(n−2)[200+(n−3)20]=11040
⇒(n−2)[200+20n−60]=10640
⇒(n−2)(20n+140)=10640
⇒20(n+7)(n−2)=10640
⇒n2+5n−14=532
⇒n2+5n−546=0
⇒(n+26)(n−21)=0
⇒n=21
So, total time =21 months.
Thanks and Regards
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