Question

Ajay sharma repays the borrowed amount of 3,25,000 by paying 30500
in the first month and then decreases the payment by 1500 every month. How
long will it take to clear his amount?
plution :

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Answer 1

Answer:

Step-by-step explanation:

Step-by-step explanation:

Since we have given that

Total borrowed amount of money that Ajay repays = Rs. 325000

Amount he paid in the first month = Rs. 30500

Then each month the payment will decrease by Rs. 1500.

So, it becomes Arithmetic Progression:

30500,29000,27500..............

Here, a = Rs. 30500

d =

We will find the number of terms i.e. number of years it will take to clear the amount .

We will use the formula for "Sum ":

so, it will take 20 month to clear the amount as it satisfies the above equation complete