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  • Jaspal Singh repays his total loan of Rs 118000 by paying every month starting with the first instalment of Rs 1000. If he increases the instalment by Rs 100 every month, what amount will be paid by him in the 30thinstalment? What amount of loan does he s

Jaspal Singh repays his total loan of Rs 118000 by paying every month starting with the first instalment of Rs 1000. If he increases the instalment by Rs 100 every month, what amount will be paid by him in the 30thinstalment? What amount of loan does he still have to pay after the 30th instalment?

Answers (1)

Total loan = 118000

                        First installment (a) = 1000

                        Installment increased = 100

                        Hence d = 100

                        30\textsuperscript{th} $installment = a\textsubscript{30} = a + 29d \\

= 1000 + 29(100)

= 1000 + 2900

= 3900

Amount of loan paid after 30 installments

= Total loan - 30th installments is total loan

\\118000 - \frac{30}{2}\left[ 2\times 1000+\left( 30-1 \right)\times 100 \right] \\ 118000 - 15 [2000 + 2900]\\ 118000 - 15 [4900]\\ 118000 - 73500 = 44500\\

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infoexpert21

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