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  • Question
  • A man arranges to pay off a debt of ?3600 in 40 annual installments which form an Arithmetic Progression (A.P). When 30 of the installments are paid, he dies leaving one-third of the debt unpaid . Find the value of the first installment.


  • Options
  • A. 55
  • B. 53
  • C. 51
  • D. 49

  • Correct Answer
  • 51 

    Explanation

    Let us assume the first installment is a and difference between two consecutive installments is d.
    According to question,
    Sum of 40 Installments = 3600
    Apply the formula Sum of first n terms in an Arithmetic Progression = Sn = n/2[ 2a + (n?1)d ]
    where a = the first term, d = common difference, n = number of terms.

    n/2[ 2a + (n?1)d ] = 3600
    Put the value of a, n and d from question,
    40/2[ 2a + (40 ?1)d ] = 3600
    20[ 2a + 39d ] = 3600
    [ 2a + 39d ] = 3600/20 = 180
    2a + 39d = 180...........................(1)

    Again according to given question,
    After paying the 30 installments the unpaid amount = 1/3(total unpaid amount) = 3600 x 1/3
    After paying the 30 installments the unpaid amount = 1200
    So After paying the 30 installments the paid amount = 3600 - 1200 = 2400
    Sum of 30 installments = 2400
    30/2[ 2a + (30 ?1)d ] = 2400
    [ 2a + (30 ?1)d ] = 2400 x 2/30
    2a + 29d = 80 x 2 = 160
    2a + 29d = 160..........................(2)
    Subtract the Eq. (2) from Eq. (1), we will get
    2a + 39d - 2a - 29d = 180 - 160
    10d = 20
    d = 2
    Put the value of d in Equation (1), we will get
    2a + 39 x 2 = 180
    2a = 180 - 78
    a = 102/2
    a = 51
    The value of first installment = a = 51


  • More questions

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      If the HCF of m and n is 1, then what are the HCF of m + n, m and HCF of m - n, n, respectively (where, m > n)?

    • Options
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    • Discuss
    • 2. 
      The sum of the digits of two-digit number is 14 and the difference between the two digits number is 2. What is the product of the two digits of the two-digit number?

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    • Discuss
    • 3. 
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    • 4. 
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    • 5. 
      A persom invests ? 12000 as fixed deposit at a bank at the rate of 10% per annum simple interest. But due to some pressing needs, he has to withdraw the entire money after 3 yr for which the bank allowed him a lower rate of interest. If he gets ? 3320 less than, what he would have got at the end of 5 yr the rate of interest allowed by bank is

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