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:
gains Rs. 55
gains Rs. 50
loses Rs. 30
gains Rs. 30
Explanation:
S.P.= P.W. of Rs. 2200 due 1 year hence
= Rs.$[\dfrac{2200\times 100}{100+(10\times 1)}]$
=Rs.2,000
Gain=Rs.(2000-1950)=Rs.50
S.P.= P.W. of Rs. 2200 due 1 year hence
= Rs.$[\dfrac{2200\times 100}{100+(10\times 1)}]$
=Rs.2,000
Gain=Rs.(2000-1950)=Rs.50