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:

A man buys a watch for Rs. 1950 in cash and sells it for Rs. 2200 at a

1.	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:
A.	gains Rs. 50
B.	gains Rs. 55
C.	gains Rs. 30
D.	loses Rs. 30
Answer» B. gains Rs. 55