Question

A man starts repaying a loan as first installment of rs 1000 if the increases the instalment by rs 50 every month , what amount will he pay in the 30th instalment ?

Answer 1

2450 is the 30th instalment

Answer 2

First installment = a = 1000Rs.

Increase in installment (monthly) = d = 50Rs.

n = 30 {the no. of installment to be found out}

an= a+(n-1)d

→ 1000 + (30-1)50

→ 1000 + (29 X 50) → 1000 + 1450

→ 2450

Therefore, amount paid in the 30th installment = Rs. 2450