All Courses
Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity Get the App Login Join for Free
Sign in Open App
Class 10 Exam  >  Class 10 Questions  >  Can you solve this question? A person borrows... Start Learning for Free
SaveJoin the Discussion on the App
Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment?
Clear all your Class 10 doubts with EduRev
Most Upvoted Answer
Can you solve this question? A person borrows ₹1000 and agrees to repa...
Total no of installment=12
the amount paid back =1000+140=1140
let a1=x
a2=x-10
a3=x-10-10=x-20
A.P=x,x-10,x-20.............till 12 installment=1140
sum; S12=n/2(2a+(n-1)d)
1140=12/2(2x-(12-1)10)
1140=6(2x-110)
1140/6=2x-110
190=2x-110
2x=300
x=150
there fore his first installment is RS 150
Attention Class 10 Students!
To make sure you are not studying endlessly, EduRev has designed Class 10 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 10.
Explore Courses for Class 10 exam

Similar Class 10 Doubts

Read the source given below and answer the questions that follows:Banks use the major portion of the deposits to extend loans. There is a huge demand for loans for various economic activities. Banks make use of the deposits to meet the loan requirements of the people. In this way, banks mediate between those who have surplus funds (the depositors) and those who are in need of these funds (the borrowers). Banks charge a higher interest rate on loans than what they offer on deposits. A large number of transactions in our day-to-day activities involve credit in some form or the other. Credit (loan) refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment. In rural areas, the main demand for credit is for crop production. Crop production involves considerable costs on seeds, fertilisers, pesticides, water, electricity, repair of equipment, etc. The various types of loans can be conveniently grouped as formal sector loans and informal sector loans. Among the former are loans from banks and cooperatives. The informal lenders include moneylenders, traders, employers, relatives and friends, etc. The Reserve Bank of India supervises the functioning of formal sources of loans. For instance, we have seen that the banks maintain a minimum cash balance out of the deposits they receive. The RBI monitors the banks in actually maintaining cash balance. There is no organisation which supervises the credit activities of lenders in the informal sector. They can lend at whatever interest rate they choose. There is no one to stop them from using unfair means to get their money back. Compared to the formal lenders, most of the informal lenders charge a much higher interest on loans. Thus, the cost to the borrower of informal loans is much higher. In recent years, people have tried out some newer ways of providing loans to the poor. The idea is to organise rural poor, in particular women, into small Self-Help Groups (SHGs) and pool (collect) their savings.Answer the following MCQs by choosing the most appropriate optionQ. Compared to the formal lenders, most of the informal lenders charge a much ................... interest on loans

Read the source given below and answer the questions that follows:Banks use the major portion of the deposits to extend loans. There is a huge demand for loans for various economic activities. Banks make use of the deposits to meet the loan requirements of the people. In this way, banks mediate between those who have surplus funds (the depositors) and those who are in need of these funds (the borrowers). Banks charge a higher interest rate on loans than what they offer on deposits. A large number of transactions in our day-to-day activities involve credit in some form or the other. Credit (loan) refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment. In rural areas, the main demand for credit is for crop production. Crop production involves considerable costs on seeds, fertilisers, pesticides, water, electricity, repair of equipment, etc. The various types of loans can be conveniently grouped as formal sector loans and informal sector loans. Among the former are loans from banks and cooperatives. The informal lenders include moneylenders, traders, employers, relatives and friends, etc. The Reserve Bank of India supervises the functioning of formal sources of loans. For instance, we have seen that the banks maintain a minimum cash balance out of the deposits they receive. The RBI monitors the banks in actually maintaining cash balance. There is no organisation which supervises the credit activities of lenders in the informal sector. They can lend at whatever interest rate they choose. There is no one to stop them from using unfair means to get their money back. Compared to the formal lenders, most of the informal lenders charge a much higher interest on loans. Thus, the cost to the borrower of informal loans is much higher. In recent years, people have tried out some newer ways of providing loans to the poor. The idea is to organise rural poor, in particular women, into small Self-Help Groups (SHGs) and pool (collect) their savings.Answer the following MCQs by choosing the most appropriate optionQ. Banks use the major portion of the deposits to

Top Courses for Class 10View all

Top Courses for Class 10

Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment?
Question Description
Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment?.
Solutions for Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment? in English & in Hindi are available as part of our courses for Class 10. Download more important topics, notes, lectures and mock test series for Class 10 Exam by signing up for free.
Here you can find the meaning of Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment? defined & explained in the simplest way possible. Besides giving the explanation of Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment?, a detailed solution for Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment? has been provided alongside types of Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment? theory, EduRev gives you an ample number of questions to practice Can you solve this question? A person borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments. If each installment being less than the preceding installment by ₹10. What should be his 1st installment? tests, examples and also practice Class 10 tests.
Explore Courses for Class 10 exam

Top Courses for Class 10

Explore Courses

Suggested Free Tests

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Get App
© EduRev
Education Revolution
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup