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Raju buys a moped for Rs. 22000 . He pay...

Raju buys a moped for Rs. 22000 . He pays Rs. 6000 cash and agrees to pay the balance in annual installments of Rs. 1000 plus `10%` interest on the unpaid amount. Find the total cost of the moped.

Text Solution

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Cash paid = Rs. 6000
`therefore` Balance amount to be paid = Rs. 16000
`1^(st)` installment `=1000+(10)/(100)xx16000=1000+1600 =2600=a`
`2^(nd)` installment `=1000+(10)/(100)xx15000=1000+1500=2500`
`16^(th)` installment `=1000+(10)/(100)xx1000+100=1100=l`
`S_(n)=(n)/(2)(a+l)=(16)/(2)(2600+1100)=8(3700)=29600` `S_(n)=(n)/(2)(a+l)=(16)/(2)(2600+1100)=8(3700)=29600`
`therefore` Total cost = 6000 +29600 =Rs. 35600
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