A man buys a watch for Rs. 1950 in cash and sells it for Rs. 2200 at a credit of

Question

A man buys a watch for Rs. 1950 in cash and sells it for Rs. 2200 at a credit of 1 year. If the rate of interest is 10% per annum, the man:

Options:

A . gains Rs. 55

B . gains Rs. 50

C . loses Rs. 30

D . gains Rs. 30

Answer: Option B

S.P. = P.W. of Rs. 2200 due 1 year hence

= Rs. \(\left[\frac{2200\times100}{100+(10\times1)}\right]\)

= Rs. 2000.

Therefore Gain = Rs. (2000 - 1950) = Rs. 50.

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