Imrez buys a used car for 150000 he pays 100000 cash and agress to pay the balance in annual instalments of 5000 plus 8% interest on the unpaid amount . How much will the car cost for him.

Dear Student,

Please find below the solution to the asked query:
Total cost=150000 RsUnpaid=150000-100000=50000 RsAccording to the problem , the interest paid annually is8% of 50000+8% of 45000+8% of 40000+...+8% of 50008% of 5000+10000+15000+20000+....+500005000+10000+15000+20000+....+50000 are in APSo 50000=5000+n-1500010=nSo50000=10225000+10-15000=510000+45000=555000=275000SoTotal interest paid=8% of 275000=275000×8100=2750×8=22000So cost of car=150000+22000=Rs172000       Answer

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