The entire amount will be paid in 900 installments.
Explanation:
- Step 1: Given first installment = Rs 800. Each installment is 50 more than the former. So this forms an arithmetic progression and the last term is 45750 when the loan is repaid.
⇒ 800, 850, 900, .....45750
So a = 800, d = 50 and a(n) = 45750
- Find number of installments, n using the equation for last term, a(n) = a + (n-1)d
⇒ 45750 = 800 + (n - 1)50
⇒ 44950 = 50n - 50
⇒ 50n = 45000
⇒ n = 900