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Q.

A man purchased a bag for Rs.360 and sold it the same day for Rs. 360, allowing the buyer a credit of 9 years.

If the interest be $7\dfrac{1}{2}\%$ then the man has gain $\%$?

 A.

159

 B.

173

 C.

243

 D.

287

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Solution:
Option(C) is correct

Interest rate $= \dfrac{15}{2} = 7.5\%$.

$CP = \text{Rs. }360.$

$SP = 360 + \text{intrest on 360 for 9 years}$

Interest = $\dfrac{360 \times 15 \times 9}{2 \times 100}$

$= \text{Rs. 243.}$

Gain = Interest $= \textbf{Rs. 243.}$

Edit 1: For an alternative solution, check comment by Nishant.

Edit 2: For the formula based alternative solution, check comment by Vejayanantham TR.


(2) Comment(s)


Vejayanantham TR
 ()

Formula $= \dfrac{{^pn_r}}{100}$

= 360*(15/2) *9 /100

=243

(other details are just for confusing you)



Nishant
 ()

Cost price $= 360$

Selling price $=360$

Principal = Selling Price

Therefore principal = 360

Rate $=7.5\%$

time period = 9 years so interest $= \dfrac{p \times R \times t}{100}= \dfrac{360\times 7.5 \times 9}{100}=243$

So amount $= p+i =360+243=603$

$SP = 360+243= 603$

profit $= \textbf{243}$