Question

A man starts repaying a loan as first instalment of Rs. 100. If he Increase the
Instalment by Rs 5 every month, what amount he will pay in the ${30}^{th}$ instalment?

Answer 1

The first installment of the loan is Rs 100.

The second instalment of the loan is Rs 105 and so on.

The amount that the man repays every month forms an A.P.

The A.P. is 100, 105, 110 …

First term, a = 100

Common difference, d = 5

$A_{30}$ = a + (30 – 1)d

= 100 + (29) (5)

= 100 + 145

= 245

Thus, the amount to be paid in the 30th installment is Rs 245.