A man purchased a cow for Rs. 3000 and sold it the same day for Rs. 3600, allowing the buyer a credit of 2 years. If the rate of interest be 10% per annum, then the man has a gain of:
A. 0%
B. 5%
C. 7.5%
D. 10%
Answer: Option A
Solution(By Examveda Team)
$$\eqalign{ & {\text{C}}{\text{.P}}{\text{.}} = Rs.\,3000 \cr & {\text{S}}{\text{.P}}{\text{.}} = Rs.\,\left[ {\frac{{3600 \times 100}}{{100 + \left( {10 \times 2} \right)}}} \right] \cr & = Rs.\,3000 \cr & {\text{Gain}} = 0\% \cr} $$Join The Discussion
Comments ( 1 )
Related Questions on True Discount
The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:
A. 12%
B. 13%
C. 15%
D. 14%
A. Rs. 9025.20
B. Rs. 9200
C. Rs. 9600
D. Rs. 9560
A. Rs. 12,000 in cash
B. Rs. 12,880 at credit
C. Both are equally good
D. Rs. 18.33
The man was promised 3600 two years later
He bought the cow at 3000,
Simple Interest= PNR/100=3000*2*10/100=600
Selling Price= 3600
He was also promised 3600
He made 0 gain in this transaction