Banker's Discount Practice Test 3

Question : 12 of 12

Marks: +1, -0

A man buys a radio 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. Find his gain.

Solution:

Here, S.P. = P.W. of Rs. 2200 due 1 year hence =

{2200 ×100}/110

= Rs. 2000
Since, Gain = 2000 – 1950 = Rs. 50

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