Kamal buys a washing machine for ₹ 10000. He pays₹ 2000 in cash an

1.	Kamal buys a washing machine for ₹ 10000. He pays₹ 2000 in cash and agrees to pay the balance in instalmentsof 500 plus 10% interest on the unpaid amount. Find thetotal amount paid for the washing machine.
Answer» kamal owes 8000 rs.he makes a payment of 500 rs.there is 7500 rs left in the loan so kamal pays 10% of that which is equal to 750 rs. kamal owes 7500 rs.he makes a payment of 500 rs.there is 7000 rs left in the loan so kamal pays 10% of that which is 700 rs. each time kamal makes a payment, kamal needs to pay 500 rs plus 10% of the unpaid balance which is 50 rs less each time. that makes this an arithmetic series type of problem where A1 = 750 and d = -50 and n = 16. the formula for the sum of an arithmetic series is: Sn = n * (A1 + An) / 2 in this problem, n = 16 and A1 = 750 and An = 0 so the formula becomes: Sn = 16 * (750 + 0) / 2 which becomes: Sn = 8 * 750 which becomes: Sn = 6000 kamal will have to pay 8000 in equal installments of 500 each plus additional 6000 in interest for a total of 14,000 rs.

Kamal buys a washing machine for ₹ 10000. He pays₹ 2000 in cash and agrees to pay the balance in instalmentsof 500 plus 10% interest on the unpaid amount. Find thetotal amount paid for the washing machine.

Answer»

kamal owes 8000 rs.he makes a payment of 500 rs.there is 7500 rs left in the loan so kamal pays 10% of that which is equal to 750 rs.

kamal owes 7500 rs.he makes a payment of 500 rs.there is 7000 rs left in the loan so kamal pays 10% of that which is 700 rs.

each time kamal makes a payment, kamal needs to pay 500 rs plus 10% of the unpaid balance which is 50 rs less each time.

that makes this an arithmetic series type of problem where A1 = 750 and d = -50 and n = 16.

the formula for the sum of an arithmetic series is:

Sn = n * (A1 + An) / 2

in this problem, n = 16 and A1 = 750 and An = 0 so the formula becomes:

Sn = 16 * (750 + 0) / 2 which becomes:

Sn = 8 * 750 which becomes:

Sn = 6000

kamal will have to pay 8000 in equal installments of 500 each plus additional 6000 in interest for a total of 14,000 rs.