A farmer buys a used tractor for rs 12000

Asked by admin @ in Math viewed by 266 People

A farmer buys a used tractor for Rs.1200. 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?

Answered by admin @


It is given that the farmer pays Rs 6000 in cash.

Therefore, unpaid amount = Rs 12000 – Rs 6000 = Rs 6000

According to the given condition, the interest paid annually is

12% of 6000, 12% of 5500, 12% of 5000, …, 12% of 500

Thus, total interest to be paid = 12% of 6000 + 12% of 5500 + 12% of 5000 + … + 12% of 500

= 12% of (6000 + 5500 + 5000 + … + 500)

= 12% of (500 + 1000 + 1500 + … + 6000)

Now, the series 500, 1000, 1500 … 6000 is an A.P. with both the first term and common difference equal to 500.

Let the number of terms of the A.P. be n.

∴ 6000 = 500 + (n – 1) 500

⇒ 1 + (n – 1) = 12

⇒ n = 12

∴Sum of the A.P

=> 12/2[2(500)+(12-1)(500)]=6[1000+5500]=6(6500)=39000

Thus, total interest to be paid = 12% of (500 + 1000 + 1500 + … + 6000)

= 12% of 39000 = Rs 4680

Thus, cost of tractor = (Rs 12000 + Rs 4680) = Rs 16680

Similar Questions

I buy a tv for rs 10000 and sell

Asked by admin @ in Math viewed by 388 persons

I bought a tv for 10,000 and sell it at a profit of 20% how much money do i get for it

A sum of rs 700 is to be used

Asked by admin @ in Math viewed by 316 persons

a sum of Rs 700 is to be used to give seven cash prizes to students of a school for their overall academic performance.if each prize is Rs 20 less …

Use of a combine harvester is beneficial to farmers explain

Asked by admin @ in Science viewed by 284 persons

Use of combine harvester is beneficial for farmer? Explain

A shopkeeper buys a number of books for rs 80

Asked by admin @ in Math viewed by 297 persons

a shopkeeper buys some book for Rs 80 if he had bought 4 more books for the same amount each book have cost Re 1 less .Find the total number …

Black when you buy it red when you use it

Asked by admin @ in English viewed by 290 persons

I am black when you buy me, red when you use me and gray when you throw me away. What am I?

A man buys a cycle for rs 1400

Asked by admin @ in Math viewed by 287 persons

a man buys a cycle for Rs 1400 and sells it at a loss of 15%.what is the selling price of the cycle?​

A lady buys goods worth rs 200 from shopkeeper

Asked by admin @ in Math viewed by 277 persons

A lady buys goods worth rs.200 from a shop. (shopkeeper selling the goods with zero profit). The lady gives him 1000 rs note. The shopkeeper gets the change from the …

Ahmed buys a plot of land for rs 96000

Asked by admin @ in Math viewed by 408 persons

Ahmed buys a plot of land for Rs 96000. He sells 2/5 of it at a loss of 6% . At what gain% should he sell the remaining part of …

A person buys a mobile phone for rs 7500

Asked by admin @ in Math viewed by 627 persons

Person buys a mobile for Rs. 7500 and sell for 6000. What is the loss%?

A sum of rs 12000 deposited at compound interest

Asked by admin @ in Accountancy viewed by 474 persons

Sum of rs.12000 deposited at compound interest become double after 5 years.After 20 years it will become

A car owner buys petrol at rs 7.50

Asked by admin @ in Math viewed by 297 persons

A car owner buys petrol at rs.7.50, rs. 8 and rs. 8.50 per litre for three successive years.what approximately is the average cost per litre of petrol if he spends …

A man buys a plot of land for rs 300000

Asked by admin @ in Math viewed by 253 persons

A man buys a plot og agricultural land for rs 300000. He sells one third at a loss of 20% and two fifths at a gain of 25%. At what …

A 12000 n car is raised using a hydraulic lift

Asked by maham237 @ in Physics viewed by 559 persons

which consists of a U-tube with arms of unequal areas, filled with incompressible oil with a density of 800 kg/m3 and capped at both ends with tight-fitting pistons. The wider …

Overcoming fixed mindset: a step-by-step guide to cultivating a growth mindset

Asked by wiki @ in Health viewed by 1236 persons

Which of the following would best complete this list?

Asked by wiki @ in Social Studies viewed by 706 persons

Most viewed questions in Math

What is the value of x in the expression

Asked by admin @ in Math viewed by 15129 persons

Shubham is facing south and moves 30 km

Asked by admin @ in Math viewed by 12979 persons

Prachi excellence in mathematics class 7 solutions pdf free download

Asked by admin @ in Math viewed by 12024 persons

Oxford new enjoying mathematics class 7 solutions chapter 1

Asked by admin @ in Math viewed by 11515 persons

Survey of various types of bank accounts icse project

Asked by admin @ in Math viewed by 11503 persons

The town of p is located at point x

Asked by admin @ in Math viewed by 11356 persons

A clock gains 4 minutes after every 4 minutes

Asked by admin @ in Math viewed by 10163 persons

Running a tuck shop or canteen maths project pdf

Asked by admin @ in Math viewed by 9377 persons

Paul is sixteenth from the front of the row

Asked by admin @ in Math viewed by 9346 persons

The average weight of 20 teachers is 80 kg

Asked by admin @ in Math viewed by 7519 persons

The number 567 xy is completely divisible by 30

Asked by admin @ in Math viewed by 7395 persons

In a row of friends tiya occupies fifteenth place

Asked by admin @ in Math viewed by 7201 persons

What would $ mean if fat is coded as

Asked by admin @ in Math viewed by 5273 persons

Consider a 3 digit integer x with distinct digits

Asked by admin @ in Math viewed by 4800 persons

Rahul went to his mother's mother in law

Asked by admin @ in Math viewed by 4175 persons