A sum of Rs. 280 is to be used to award four prizes. If each prize after the first is Rs. 20 less than the next most valuable one, find the value of each of the prizes.
Since each prize is Rs. 20 less than its preceding prize, therefore, the values of the seven successive cash prizes will form an A .P.
Let the first prize be Rs. a. Then, Successive prize = Rs. (a – 20), Rs. (a – 40),
Rs. (a – 60)..........Here, first term = a
Common difference = (a – 20) – a = –20 n = 7 and Sn = 700
Hence value of first prize = Rs. 160, and successive prizes are
Rs. (a – 20), Rs. (a – 40), Rs. (a – 60) ...
i.e. Rs. (160 – 20), Rs. (160 – 40), Rs. (160 – 60)...
i.e. Rs. 140, Rs. 120, Rs. 100 ...