Question

John is curious how much money he can make in a month. He makes one penny on March 1st. He hopes to double the amount he makes each day. How much money would he have made on March 31st?

Answer 1

£10,737,418.24

Explanation:

Every day amount doubles:

• March 1st = 1p= 2^0 p
• March 2nd = 2*1p = 2^1 p
• March 3rd = 2*2p = 2^2 p
• ...
• March 31st = 2^30 p = 1,073,741,824 p = £10,737,418. 24