Problem

Suppose you go to a company that pays 0.01 for the first day, 0.02 for the second day, 0.04 for the third day and so on. If the daily wage keeps doubling, what will your total income be for working 30 days ?
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Answer

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Answer

Final Answer: \(\boxed{10737418.23}\)

Steps

Step 1 :Given a company that pays $0.01 for the first day, $0.02 for the second day, $0.04 for the third day and so on, with the daily wage doubling each day, we are asked to find the total income for working 30 days.

Step 2 :This problem can be solved as a geometric progression problem where the first term (a) is $0.01, the common ratio (r) is 2, and the number of terms (n) is 30.

Step 3 :The sum (S) of a geometric progression can be calculated using the formula: \(S = a \times \frac{r^n - 1}{r - 1}\)

Step 4 :Substituting the given values into the formula, we get: \(S = 0.01 \times \frac{2^{30} - 1}{2 - 1}\)

Step 5 :Solving the equation gives us the total income for working 30 days.

Step 6 :Final Answer: \(\boxed{10737418.23}\)

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