Discussion
A man bought a cow for Rs. 3000 in cash and sold it the same day for Rs. 3660, due 2 years hence. If the rate of interest is 10% per annum, the man gains:
Answer: D
\[ \text{Amount} = \text{PW}\left(1 + \frac{RT}{100}\right), \qquad \text{TD} = \text{Amount} - \text{PW} \]
\[ \text{PW} = \frac{3660}{1 + \dfrac{10 \times 2}{100}} = \frac{3660}{1.2} = \text{Rs. } 3050 \]
\[ \text{gain} = 3050 - 3000 = \text{Rs. } 50 \]
\[ \text{gain}\% = \frac{50}{3000} \times 100 = 1.67\% \]
That figure appears nowhere on the list, so the answer is none of these. It is worth contrasting this with the Rs. 3600 version of the same problem, where the present worth comes to exactly Rs. 3000 and the gain is 0%.
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