Jaspal Singh repays his total loan of ₹ 118000 by paying every month starting with the first installment of ₹ 1000. If he increases the installment by ₹
100 every month, what amount will be paid by him in the 30th installment? What amount of loan does he still have to pay after the 30th installment?
Jaspal singh takes total loan = ₹ 118000 He repays his total loan by paying every month.
His first installment = ₹ 1000
Second installment = 1000 + 100 = ₹ 1100
Third installment = 1100 + 100 = ₹ 1200 and so on