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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 what percentage ?
Gain is 0 %
Ans 40 % gain .
check he sell at 3600 at the same day so he already earn 20%
now on the interest rate 10% he has given 1 year = 360 bucks 2 year = 720 bucks
which is 20% of 3600 rs
that's 20%+20% = 40% gain.
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