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A man purchased a cow for Rs 3000 and sold it...

This question belongs to Arithmetic Ability True Discount
True Discount
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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:

Answer & Solution
Correct Answer: Option A
$$\eqalign{ & {\text{C}}{\text{.P}}{\text{.}} = Rs.\,3000 \cr & {\text{S}}{\text{.P}}{\text{.}} = Rs.\,\left[ {\frac{{3600 \times 100}}{{100 + \left( {10 \times 2} \right)}}} \right] \cr & = Rs.\,3000 \cr & {\text{Gain}} = 0\% \cr} $$
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1 Comment
Shruti Borkar
Shruti Borkar 8 years ago
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
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