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Question

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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