Secondary revision · Commerce - G11

Means of Payment Through Banks

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Explore various means of payment through banks, including cheques, standing orders, credit transfers, direct debiting, banker's drafts, and cash dispensers (ATM). Understand how these methods facilitate financial transactions. Ready to handle payments like a financial expert? Take our quiz and become a payment specialist!

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This problem requires solving for n in the sum formula. Given: a = 5, d = 8 - 5 = 3, \(S_n = 155\). Using \(S_n = \frac{n}{2}[2a + (n-1)d]\): \(155 = \frac{n}{2}[2(5) + (n-1)3]\). Simplify: \(155 = \frac{n}{2}[10 + 3n - 3]\). \(155 = \frac{n}{2}[7 + 3n]\). Multiply both sides by 2: \(310 = n[7 + 3n]\). Expand: \(310 = 7n + 3n^2\). Rearrange: \(3n^2 + 7n - 310 = 0\). Factor or use quadratic formula. For factoring: Find factors of \(3 \times (-310) = -930\) that add to 7. Factors are 31 and -30. Rewrite: \(3n^2 + 31n - 30n - 310 = 0\). Group: \(n(3n + 31) - 10(3n + 31) = 0\). Factor: \((n - 10)(3n + 31) = 0\). Solutions: n = 10 or n = -31/3. Since n must be positive, n = 10. Answer: 10 terms are needed. This type of problem is challenging but appears regularly in ECZ Paper 2. It combines arithmetic sequences with quadratic equations, testing multiple skills simultaneously.

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