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:

a. gains rs. 55

b. gains rs. 50

c. loses rs. 30

d. gains rs. 30

Answer 1

Answer is B
2200*10/110=200
2200-200=2000
2000-1950=50
Hope it helps