Aptitude - True Discount - Discussion
Discussion Forum : True Discount - General Questions (Q.No. 8)
8.
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:
Answer: Option
Explanation:
| S.P. | = P.W. of Rs. 2200 due 1 year hence | |||||
|
||||||
| = Rs. 2000. |
Gain = Rs. (2000 - 1950) = Rs. 50.
Discussion:
87 comments Page 2 of 9.
Suhail Abdul Rehman Chougule said:
8 years ago
The answer given here 50 is wrong it should be 55, Because Seller in Investing 1950 as to incur the cost at 10%(i.e. 195) and the buyer is paying 2200 after a year.
So, the sellers cost is 1950+195 =2145 and hence his gain in the transactions is 2200-2145 =55.
So, the sellers cost is 1950+195 =2145 and hence his gain in the transactions is 2200-2145 =55.
(7)
Rahul said:
8 years ago
According to me, 55 is the correct answer.
(3)
Shubham Modi said:
8 years ago
If we take interest on Rs 2200 how can he ever face a loss cuz he is selling at Rs 2000 that means he is already selling at a profit on which he is gaining the interest profit as well. If you take in that way the profit will become 250. 50 Rs on selling the difference between buying and Selling cost and the Rate of Interest money as well.
Instead the questions wants to see that he sold that Rs 2200 at a credit of 1 year and the general annual interest rate is 10% so did he make a loss or profit by selling it rather than gaining interest on it. Hence the 10% should be calculate at 1950 and then check with 2200 if he made a profit or loss.
Hence 55 comes as the correct answer.
Instead the questions wants to see that he sold that Rs 2200 at a credit of 1 year and the general annual interest rate is 10% so did he make a loss or profit by selling it rather than gaining interest on it. Hence the 10% should be calculate at 1950 and then check with 2200 if he made a profit or loss.
Hence 55 comes as the correct answer.
(1)
Yogesh meena said:
9 years ago
2200 =interest + actual selling prize.
S.p. = x
2200 = x10/100 + x,
x = 2000.
So, that 2000-1950 = 50.
S.p. = x
2200 = x10/100 + x,
x = 2000.
So, that 2000-1950 = 50.
(2)
Rohit said:
9 years ago
Thanks a lot @Jatin.
(1)
Shubham Singh said:
9 years ago
If P = 100 on 10% rate of interest he have to pay I = 110.
So, 100 -> 110.
x -> 2200.
By Solving x = 2000.
So, profit is 2000 - 1950 = 50.
So, 100 -> 110.
x -> 2200.
By Solving x = 2000.
So, profit is 2000 - 1950 = 50.
Jatin said:
9 years ago
Guys we'll se present value of 2200.
Present value of 2200 = 2200 ÷ 1.1 = 2000,
(Let us assume present value of 2200 be x.
So x+10%of x = 2200,
1.1x = 2200,
X=2000.
Profit = 2000 - 1950 = 50.
Present value of 2200 = 2200 ÷ 1.1 = 2000,
(Let us assume present value of 2200 be x.
So x+10%of x = 2200,
1.1x = 2200,
X=2000.
Profit = 2000 - 1950 = 50.
Sneha said:
9 years ago
I agree with you @Arijit.
Arijit said:
9 years ago
Let's clear it up. Say the seller is S and buyer is B.
So S bought the watch for Rs.1950. Now B said he wanted to buy the watch. S gave the selling price as Rs.2200. B bought the watch from S at Rs.2000 and asked S to keep those Rs.2000 at a bank for 1 year at 10% interest. That way after 1 year, S will get his Rs. 2200.
So, at present S made a profit of only Rs.50 although after 1 year the overall profit will stand out to be Rs.250.
This seems correct.
Please correct me if I'm wrong.
So S bought the watch for Rs.1950. Now B said he wanted to buy the watch. S gave the selling price as Rs.2200. B bought the watch from S at Rs.2000 and asked S to keep those Rs.2000 at a bank for 1 year at 10% interest. That way after 1 year, S will get his Rs. 2200.
So, at present S made a profit of only Rs.50 although after 1 year the overall profit will stand out to be Rs.250.
This seems correct.
Please correct me if I'm wrong.
Aniket said:
9 years ago
Please explain the answer more clearly. I couldn't get it.
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers