Question

A competition awards prizes for fourth , third, second, and first place. The fourth place winner receives 5$. Each place above that receives a prize that is five times the amount of the previous prize. How much prize money is awarded?

Answer 1

Answer:

A total of $780 price money was awarded.

Step-by-step explanation:

Given:

Price received by fourth place winner $P_4$= $5

We need to find the Total prize money awarded.

Solution:

Now Given;

Each place above that receives a prize that is five times the amount of the previous prize

So we can say that;

$P_n =5\times P_{(n+1)}$

Where n ⇒ Number Place

$P_n$  ⇒Price received by Number place

Substituting the values of n as 3,2,1 to find the price of third second first place winner.

$P_3 = 5\times P_{(3+1)}= 5\times P_4 = 5\times 5 = \ 25$

$P_2= 5\times P_{(2+1)}= 5\times P_3 = 5\times 25 = \ 125$

$P_1 = 5\times P_{(1+1)}= 5\times P_2 = 5\times125 = \ 625$

Now We will find the Total Prize money awarded.

Total Prize money awarded = $P_1+P_2+P_3+P_4 = 625+125+25+5 = \ 780$

Hence A total of $780 price money was awarded.