Question 14 Marks
Ravish was wishing to buy a new car but he didnt had enough of money. One of his friend suggested him to take a loan from XYZ bank. Influenced by his idea, he decides to take a loan of Rs. 1,18,000 and decides to repay by Rs. 1000 per month. On a further note, he decides to increasethe installment by Rs. 100 every month. Answer the following questions.

(i) What is the amount paid by him in 30th installment?
(ii)What is the total amount paid by him in 30 installments?
OR
What is the ratio of first and last installment?
(iii) If the total number of installments is 40, what is the amount paid in the last installment?3

(i) What is the amount paid by him in 30th installment?
(ii)What is the total amount paid by him in 30 installments?
OR
What is the ratio of first and last installment?
(iii) If the total number of installments is 40, what is the amount paid in the last installment?3
Answer
View full question & answer→i) Rs. 3900
ii) Rs. 73500 or 10 :49
iii) Rs. 4900
ii) Rs. 73500 or 10 :49
iii) Rs. 4900















