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A farmer buys a used tractor for Rs 12000. He pays Rs 6000 cash and agrees to pay the balance in annual installments of Rs 500 plus 12% interest on the unpaid amount. - Mathematics

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प्रश्न

A farmer buys a used tractor for Rs 12000. He pays Rs 6000 cash and agrees to pay the balance in annual installments of Rs 500 plus 12% interest on the unpaid amount. How much will be the tractor cost him?

योग
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उत्तर

value of used tractor = Rs. 12000

cash payment = Rs. 6000

balance = Rs. 12000 – Rs. 6000 = Rs. 6000

payment of an installment = Rs. 500 

total installments = `6000/12 = 12`

P Interest on principal at 12% per annum for 1 year = `("p" xx 12 xx 1)/100 = 3/25 "P"`

Payment of amount after one year = 500 + Interest 

= `500 + 3/25 xx 6000`

Interest after two years = `3/25` × Rs. 5500 Installment

Payment after 2 years = `(500 + 3/25 xx 5500) "Rs"`

Installment after 12 years = 12 × 500 = 6000

Interest = `3/25 (6000 + 5500 + 5000 + ......  "to 12 terms")`

= `3/25 xx 12/2  [12000 - (12 - 1) xx 500]`

= `3/25 xx 12/2  [12000 - 5500]`

= `3/25 xx 12/2 xx 6500`

=  Rs. 4680 

Total payment = Rs. (12000 + 4680)  

= Rs. 16680

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अध्याय 9: Sequences and Series - Miscellaneous Exercise [पृष्ठ २००]

APPEARS IN

एनसीईआरटी Mathematics [English] Class 11
अध्याय 9 Sequences and Series
Miscellaneous Exercise | Q 27 | पृष्ठ २००

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