A trader buys a chair for rs. 600 and sells it for rs.765 at a credit for 4 months reconkoning money worth 6% p.a. His gain percent is.?
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A trader buys a chair for Rs 600 and sells it for Rs 765 at a credit of 4 months. Reckoning money worth 6% per annum, what's his gain percent?
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Mathivanan Palraj
Mathivanan Palraj, Author of GMAT:Problem Solving Techniques for Top Score
Answered Apr 26, 2016
We have to find the future value of Rs 600 after 4 months at 6% p.a.
F.V = 600+(600*4*6/1200) = Rs.612
The trader will receive Rs.765 at the end of 4 months.
Gain % = 153*100/612 = 25%
You can also find the present value of 765 and calculate gain on Rs.600.
This is a example. Try yourself
Still have a question? Ask your own!
What is your question?
4 ANSWERS
Mathivanan Palraj
Mathivanan Palraj, Author of GMAT:Problem Solving Techniques for Top Score
Answered Apr 26, 2016
We have to find the future value of Rs 600 after 4 months at 6% p.a.
F.V = 600+(600*4*6/1200) = Rs.612
The trader will receive Rs.765 at the end of 4 months.
Gain % = 153*100/612 = 25%
You can also find the present value of 765 and calculate gain on Rs.600.
This is a example. Try yourself
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