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Q1: 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

ANS:B - gains Rs. 50

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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