nikhil repays a loan of 3250 by paying rs 20 in the first month and than the increasse the payment by rs15 every month.how long wil it take to clear the loan

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Solution

So our progression will be
20, 35, 50, ..., 3250
3250= 20+(n-1)15
3250=20+15n-15
3250=15n+5
3245=15n
n= 216 months
= 216/12 = 18 years

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nikhil repays a loan of 3250 by paying rs 20 in the first month and than the increasse the payment by rs15 every month.how long wil it take to clear the loan

So our progression will be20, 35, 50, ..., 32503250= 20+(n-1)153250=20+15n-153250=15n+53245=15nn= 216 months= 216/12 = 18 years

So our progression will be
20, 35, 50, ..., 3250
3250= 20+(n-1)15
3250=20+15n-15
3250=15n+5
3245=15n
n= 216 months
= 216/12 = 18 years