A guy purchases a watch for Rs. 1950 in cash and sells it for Rs. 2200 on a one-year credit. If the interest rate is ten percent per year, the man:
A. gains Rs. 55
B. gains Rs. 50
C. loses Rs. 30
D. gains Rs. 30
Answer:B
A guy purchases a watch for Rs. 1950 in cash and sells it for Rs. 2200 on a one-year credit. If the interest rate is ten percent per year, the man:
A. gains Rs. 55 B. gains Rs. 50 C. loses Rs. 30 D. gains Rs. 30
Explanation: S.P. = Rs. 2200 x 100/ 100 + S.P. = Rs. 2200 x 100/ 100 + S.P. = Rs. 2200 x 100/ 100 + S.P. = (10 x 1)= 2000 rupee,Gain = (2000 - 1950) x 50 = Rs.50