Question

Yui makes a list of the balances in her savings account at the end of each month. She notices that each month’s total is 5% greater than the previous month’s total. She writes a recursive formula to describe the account balances.

Answer 1

The Common Ratio is 1.05 . Option C is the answer.

The complete question is

Which value should she use as the common ratio?

0.05

0.5

1.05

5.0

What is common Ratio ?

In a Geometric Sequence the ratio between each if the consecutive number is called the common Ratio.

Let Yui saving at the end of first month is Rs.x .

As given in the question

each month’s total is 5% greater than the previous month’s total.

Saving after second month is = First Month Total + 5% of First Month Total

= x + (5 % of x )

= x + (5*x/100)

= x + 0.05x

= 1.05x.

Yui balance is 1.05 times of Previous Month balance

Common Ratio = {Next Month }/ {Previous Month}

Common Ratio = 1.05 x / x

Common Ratio = 1.05

Therefore Common Ratio is 1.05 . Option C is the answer.

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