Question

A man repays a loan of ₹3240 by paying ₹ 350 in the first month and then decreases payments by ₹ 15 every month.How it will take to clear fis loan
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Answer 1

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Answer 2

$\huge\bold\purple{Answer:-}$

20 months

Step-by-step explanation:

YOU HAVE NOT MENTIONED ANY LOAN INTEREST RATE SO I SUPPOSE THAT NO INTEREST AMOUNT IS TO BE PAID.

MY CALCULATION

(1) 3250–305 = 2945

(2) 2945–290 =2655

(3) 2655–275 = 2380

(4) 2380–260= 2120

(5) 2120–245 = 1875

(6) 1875–230 =1645

(7) 1645–215 = 1430

(8) 1430–200= 1230

(9) 1230–185 = 1045

(10) 1045–170= 875

(11)875–155= 720

(12) 720–140= 580

(13) 580–125= 455

(14) 455–110 = 345

(15) 345–95= 250

(16) 250–80 = 170

(17) 170–65= 105

(18) 105–50= 55

(19) 55–35= 20

(20) 20–20=0

AS PER ABOVE CALCULATION, IT WILL TAKE TWENY MONTHS TO REPAY FULL LOAN AMOUNT.