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#1 2007-10-18 14:47:28

shivusuja
Member
Registered: 2006-09-14
Posts: 56

sequences and series

PLEASE HELP ME WITH THE PROBLEM

A farmer buys a used tractor for Rs 12000. He pays Rs 6000 cash and agrees to
pay the balance in annual instalments of Rs 500 plus 12% interest on the unpaid
amount. How much will the tractor cost him?

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#2 2007-10-18 17:57:25

landof+
Member
Registered: 2007-03-24
Posts: 131

Re: sequences and series

find the 12% interest for the first payment...

1) amt needed to pay
12000-6000
=6000

2) no. of installments
6000/500
=12

continue.... it should be obvious from here.


I shall be on leave until I say so...

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#3 2007-10-18 22:54:05

shivusuja
Member
Registered: 2006-09-14
Posts: 56

Re: sequences and series

sir

the sum is from sequences and series. i should follow the progression method. so is it in a.p or g.p? how to start?

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