What amount does he still have to pay after the 30th instalment?

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Solution

Q.
Your elder brother wants to buy a car and plans to take loan from a bank for his car. He repays his total loan of Rs 1,18,000 by paying every month starting with the first instalment of Rs 1000. If he increases the instalment by Rs 100 every month, answer the following:

Based on the above information answer the following questions:

(ii) What amount does he still have to pay after the 30th instalment

1 45500

2 44500

3 42500

4 43000

Ans.
(2)

Now, total amount paid in 30 instalment = $S_{30}$

$S_{30} = 30 / 2 (2 \times 1000 + (30 - 1) \times 100) [∵ S_{n} = n / 2 (2 a + (n - 1) d)] \Rightarrow S_{30} = 30 (1000 + 29 \times 50) = 30 \times 2450 = ₹ 73, 500 ∴ A m o u n t s t i l l h e h a s t o p a y = ₹ 1, 18, 000 - ₹ 73, 500 = ₹ 44, 500$

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