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:
A) gains Rs. 55 B) gains Rs. 50 C) loses Rs. 30 D) gains Rs. 30
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Answer:
gains Rs.50
Step-by-step explanation:
s. p =p. w . of Rs. 2200 due 1 year hence
= Rs. (2200 x 100/100 + {10 x 1})
= Rs.2000
therefore Gain = Rs.(2000 - 1950) = Rs.50
hope it helps
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