Question

A man repays a loan of rs 3250 by paying rs 20 in the first month and then increases the payment by rs 15every month .How long will it take lin to clear the loan

Answer 1

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Suppose the loan is cleared in n months.clearly,the amount form an A.P. with first term 20 and the common difference 15.

      Sum of the amounts=3250.

n/2[2*20+(n-1)15]=3250

-----> (5n/2)[8+(n-1)3]=3250

----->  n[8+(n-1)3]=650*2

----->  8n+3n^2-3n=1300

-----> 3n^2+5n-1300=0

-----> (n-20) (3n+65)=0

----->    n-20=0       [ therefore, 3n+65=0 ---> n=-65/3,not possible]

          n=20

Hence the loan will be cleared in 20 months..

 

 

     i hope if helps u.

 

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