Question

A man starts repaying a loan as first instalment of Rs 500. If he increases the instalment by Rs 25 every month, what,amount will he pay in the 30th instalment?

Answer 1

First instalment of loan = Rs 500
Increases Rs 25 every month
Here, a = 500, d = 25
Total instalments (n) = 30
We have to find T₃₀
T₃₀ = a + (n – 1 )d = a + 29d
= 500 + 29 x 25
= 500 + 725
= Rs 1225.