[Solved] (a) A firm starts work with 110 employees for the 1st week. The number of the employees rises by 6% per week. How many persons will be employed
Question: (a) A firm starts work with 110 employees for the 1st week. The number of the employees rises by 6% per week. How many persons will be employed in the 20th week if the present rate of expansion continues.
(b) A contractor hires out machinery. In the first year of hiring out one piece of equipment the profit is £6000, but this diminishes by 5% in successive years. Show that the annual profits form a geometric progression and find the total of all the profit for the first 5 years.
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