Q. 334.7( 4 Votes )

A man starts repaying, a loan with the first instalment of Rs. 100. If he increases the installment by Rs. 5 every month, what amount he will pay in the 30th instalment?

Answer :

The first instalment of the loan = Rs. 100

The 2nd instalment of the loan = Rs. 105

The 3rd instalment of the loan = Rs. 110

and so, on

The amount that the man repays every month forms an AP.

Therefore, the series is

100, 105, 110, 115,…

Here, a = 100, d = 105 – 100 = 5

We know that,

an = a + (n – 1)d

a30 = 100 + (30 – 1)5

a30 = 100 + 29 × 5

a30 = 100 +145

a30 = 245

Hence, the amount he will pay in the 30th installment is Rs 245.

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