Solution: Find the total amount of money used

If P500 is given to an individual and that individual spends 80% of it, and the receivers of that money also spends 80% of what they received, and the cycle continues forever, Find the total amount of money used.

Find the total amount of money used

Problem Statement:

The Government gives P500 taken from the lottery. If P500 is given to an individual and that individual spends 80% of it, and the receivers of that money also spends 80% of what they received, and the cycle continues forever, Find the total amount of money used.

Problem Answer:

The total amount of money used is P2000.

Solution:

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