2. Sum of the series: Find the penalty amount a person has to pay

Vimal, a project manager, made a construction contract with another company which specifies a penalty for delay of completion beyond a certain date as follows: \(₹\)150 for the first day, \(₹\)200 for the second day, \(₹\)250 for the third day, etc., the penalty for each succeeding day being \(₹\)50 more than for the preceding day. How much money Vimal has to pay as penalty, if he has delayed the work by 38 days?