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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

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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