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Jaspal Singh repays his total loan of Rs 118000 by paying every month starting with the first installment of Rs 1000. If he increases the installment by Rs 100 every month, what amount will be paid by him in the 30th installment?

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Rs. 3900

Rs. 4500

Rs. 73500

Rs. 3700

answer is A.

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Detailed Solution

It is given, the first installment to be paid = Rs.1000.
And the amount of each installment increases by Rs. 100 every month,
So, the series will be 1000,1100,1200,..... which gives a =1000, d =100 .
The 30th term be, when n =30,

a 30 = 1000 + 30 − 1 100 a 30 = 1000 + 2900 a 30 = 3900

The amount paid in the 30th installment is Rs 3900.
Therefore, the correct option is 1.

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