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:

1.

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: Option B

Explanation:

S.P.

= P.W. of Rs. 2200 due 1 year hence

= Rs.		2200 x 100
		100 + (10 x 1)

= Rs. 2000.

Gain = Rs. (2000 - 1950) = Rs. 50.

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