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    ebenesarb
    The man repays a loan of Rs. 3250 by paying Rs. 20 the first month and increasing payments by Rs. 15 each month. Using the formula for an arithmetic progression, it is determined that it will take 20 months for the loan to be cleared.

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    Solution

    Uploaded by

    ebenesarb
    42 views2 pages
    The man repays a loan of Rs. 3250 by paying Rs. 20 the first month and increasing payments by Rs. 15 each month. Using the formula for an arithmetic progression, it is determined that it will take 20 months for the loan to be cleared.

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    The man repays a loan of Rs. 3250 by paying Rs. 20 the first month and increasing payments by Rs. 15 each month. Using the formula for an arithmetic progression, it is determined that it will take 20 months for the loan to be cleared.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    42 views2 pages

    Solution

    Uploaded by

    ebenesarb
    The man repays a loan of Rs. 3250 by paying Rs. 20 the first month and increasing payments by Rs. 15 each month. Using the formula for an arithmetic progression, it is determined that it will take 20 months for the loan to be cleared.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    The man repays a loan of Rs. 3250 by paying Rs.

    20 in the first month and then increases the


    payment by Rs. 15 every month. How long will it take to clear his loan?

    Solution:

    Sum Sn = 3250

    First month payment = a = 20

    Difference = 15 (Arithmetic Progression)

    n
    (2a+(n−1 )d )
    Apply the formula, Sn = 2

    n
    ( 40+(n−1)15)
    2 = 3250

    on simplifying we get,

    15n2+25n−6500=0

    ⟹3n2+5n−1300=0

    ⟹(n−20)(3n+65)=0

    3n+65 = 0 gives negative solution it is not a possible solution, ∴n = 20

    Hence it would take 20 months for him to clear the loan


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