Question:

Bhiku borrowed some money from Dhanraj to admit his daughter in a reputed Law School. He agreed to pay the interest-free loan of ₹ 60, 000 in a monthly installments which increased by a constant amount. After the 20th installment, he found that he has paid 3/4 of the loan. If the entire loan was cleared this way in 25 installments, find out the value of the first installment.

  • ₹ 1560
  • ₹ 1067
  • ₹ 1680
  • ₹ 1987
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The Correct Option is C

Solution and Explanation

The correct option is (C):₹ 1680.
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