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True Discount
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
Show Answer
Correct Answer:
gains Rs. 50
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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