Solution: How many wealthy men paid?

In a benefit show, a number of wealthy men agreed that the first one to arrive would pay 10 centavos to enter and each later arrive would pay twice as much as the preceding man.

How many wealthy men paid?

Problem Statement: CE Board November 1994

In a benefit show, a number of wealthy men agreed that the first one to arrive would pay 10 centavos to enter and each later arrive would pay twice as much as the preceding man. The total amount collected from all of them was P 104,857.50. How many wealthy men paid?

Problem Answer:

There are 20 wealthy men paid.

Solution:

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