A man buys a watch for Rs. 1950 in cash and sells it for Rs.... | Mathematics | SolveeIt | Solveeit

Today, August 18

Question

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

Gains Rs. 55

Explanation

Solution

The correct option is (A): Gains Rs. 55