A man buys a watch for Rs1950 in cash and sells it for Rs 2200 at a credit of 1 yr. The rate of interest is 10% per annum. Then he gains or loose how much amount?
A) 50
B) 55
C) 15
D) 45
Answer: A) 50
Explanation:
S.P = P.W of Rs. 2200 due 1yr hence = Rs. [(2200 x 100)/100+(10 x 1)] = Rs.2000
The present value of a bill due at the end of 2 years is Rs.1250. If the bill were due at the end of 2 years and 11 months, its present worth would be Rs.1200. Find the rate of interest and the sum.
The true discount on a certain sum of money due 3 year hence is Rs.100 and the S.I. on the same sum for the same time and at the same rate is Rs.120. Find the sum and the rate percent.