00:01
In this problem, on day 1, we get dollar ,000.
00:08
Similarly, day 2, we get 9 by 10 of this.
00:14
Day 3, we get 9 by 10 into the money on the second day.
00:23
Thus, on day n, this can be written as 9 by 10 power n minus 1 into 1.
00:32
Now we want to know the date in which the money on the nth date, which is this much, should be less than one cent, which is 0 .01.
00:46
This comes as 9 by 10 power n minus 1 to be less than 10 power minus 5.
00:51
Taking log to the base in both sides, we get n minus 1.
00:56
Log of 9 by 10 should be less than minus 5...