A sum of ₹2800 is to be used to award four prizes.

Let the amount of the first prize be ₹a.

Since each prize after the first is ₹200 less than the preceding prize, so the amounts of the four prizes are in AP.

Amount of the second prize = ₹(a − 200)

Amount of the third prize = ₹(a − 2 × 200) = ₹(a − 400)

Amount of the fourth prize = ₹(a − 3 × 200) = ₹(a − 600)

Now,

Total sum of the four prizes = ₹2,800

∴ ₹a + ₹(a − 200) + ₹(a − 400) + ₹(a − 600) = ₹2,800

⇒ 4a − 1200 = 2800

⇒ 4a = 2800 + 1200 = 4000

⇒ a = 1000

∴ Amount of the first prize = ₹1,000

Amount of the second prize = ₹(1000 − 200) = ₹800

Amount of the third prize = ₹(1000 − 400) = ₹600

Amount of the fourth prize = ₹( 1000 − 600) = ₹400

Hence, the value of each of the prizes is ₹1,000, ₹800, ₹600 and ₹400.