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

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

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

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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