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$A$ has to pay $₹220$ to $B$ after $1$ year. $B$ asks $A$ to pay $₹110$ in cash and defer the payment of $₹110$ for $2$ years. $A$ agrees to it. Counting, the rate of interest at $10\%$ per annum in this new mode of payment:

1. There is no gain or loss to anyone
2. $A$ gains $₹7.34$
3. $A$ loses $₹7.34$
4. $A$ gains $₹11$

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