Home
Class 10
MATHS
A man borrows ₹ 8000 and agrees to repay...

A man borrows ₹ 8000 and agrees to repay with a total interest of ₹ 1360 in 12 monthly installments. Each installment is being less than the preceding one by ₹40. Find the amount of the first and last installment.

Text Solution

Verified by Experts

The correct Answer is:
`therefore` First installment is ₹ 1000 and last installment is ₹ 560.
Promotional Banner

Topper's Solved these Questions

  • ARITHMETIC PROGRESSION

    CHETAN PUBLICATION|Exercise PROBLEM SET 3|12 Videos

  • ARITHMETIC PROGRESSION

    CHETAN PUBLICATION|Exercise PROBLEM SET 3 (MCQ)|10 Videos

  • ARITHMETIC PROGRESSION

    CHETAN PUBLICATION|Exercise MASTER KEY QUESTION SET PRACTICE SET 3.3|12 Videos

  • PROBABILITY

    CHETAN PUBLICATION|Exercise ASSIGNMENT|20 Videos

  • CHALLENGING QUESTIONS

    CHETAN PUBLICATION|Exercise Mensuration|9 Videos

Similar Questions

Explore conceptually related problems

Mr. Shah borrows ₹4000 and agrees to repay with a total interest of ₹500 in 10 installments, each installment being less than the preceding installment by ₹10. What should be the first and the last installment?

A farmer borrows ₹ 1000 and agrees to repay with a total interest of ₹ 140 in 12 installments, each installment being less than the preceding installment by ₹10. What should be his first installment?

Mr. Ajay Sharma borrows ₹3,25,000. He paid ₹30,500 in the first month and then each instanllment becing less than the preceding installment by ₹1500. How long will it take to clear his loan?

A man starts repaying a loan as first installment of Rs. 100. If he increases the installment by Rs 5 every month, what amount he will pay in the 30^("th") installment?

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

Raghu wish to buy a laptop. He can buy it by paying ₹40,000 cash or by giving it in 10 installments as ₹4800 in the first month, ₹4750 in the second month, ₹4700 in the third month and so on. If he pays the money inn this fashion, find total amount paid in 10 installments.

Raghu wish to buy a laptop. He can buy it by paying ₹40,000 cash or by giving it in 10 installments as ₹4800 in the first month, ₹4750 in the second month, ₹4700 in the third month and so on. If he pays the money inn this fashion, find how much extra amount that he has to pay than the cost?