Question

Shamshad Ali buys a scooter for Rs. 22000. He pays Rs 4000 cash and agrees to pay the balance in annual instalment of Rs. 1000 plus 10% interest on the unpaid amount. How much will the scooter cost him ?

Answer 1

Hi

Here is your answer,

Samshad Ali buys a scooter for Rs. 22000. After paying Rs. 4000, Shamshad Ali left with Rs. 18000.

1st interest paid Rs. 18000 × 10/100 = Rs. 1800


2nd interest paid = Rs. 17000 × 10/100 = Rs. 1700


18th  interest paid = Rs. 1000 × 10/100 = Rs. 100

Total amount of interest 
                                   = Rs. [ 1800 + 1700 +................+ 100]

= Rs. 18/2[1800 + 100]                [∵  1800 , 1700........100 is an A.P. with n = 
                                                          18, a = 1800 , l = 100]

= Rs. [ 9 × 1900]

= Rs. 17100

∴ The cost of scooter = Rs. [ 22000 + 17100]

                   = 39100.


Hope it helps you !