a trader buys a chair for Rs 600 and sells it for Rs 765 at a credit of 4 months , reckoning money worth 6% p.a. , find his gain %
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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.
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.
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