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AMCAT Profit and Loss Questions And Answer

AMCAT Profit and Loss Questions And Answer

AMCAT Profit and Loss Questions And Answer

1. An article was sold for Rs. 2770. Had it been sold for Rs. 3000 there would have been an additional

gain of 10%. Cost Price of the article is:

A: Rs. 2100

B: Rs. 2200

C: Rs. 2300

D: Rs. 2400

Correct Answer : C

2. Rakesh buys a scooter worth Rs. 10,000. He sells it to Mohan at a profit of 10%. If after sometime

Mohan sells it back to Rakesh at a loss of 10%, then totally:

A: Rakesh loses Rs. 100

B: Rakesh loses Rs. 1100

C: Rakesh gains Rs. 100

D: Rakesh gains Rs. 1100

Correct Answer : D

3. The list price of an electric iron is Rs. 300. If two successive discounts of 15% and 10% are allowed,

its selling price will be:

A: Rs. 229.50

B: Rs.231.50

C: Rs.232.50

D: Rs. 234.50

Correct Answer : A

4. The rate of compound interest at which a sum of Rs. 8000 amounts to Rs. 8820 in 2 years, is:

A: 5%

B: 4%

C: 6%

D: 7%

Correct Answer : A

5. Prabodh bought 30 kg of rice at the rate of Rs. 8.50 per kg and 20 kg of rice at the rate of Rs. 9.00

per kg. He mixed the two. At what price (App.) per kg should he sell the mixture in order to get 20%

profit?

A: Rs. 9.50

B: Rs. 8.50

C: Rs. 10.50

D: Rs. 12.00

Correct Answer : C

6. The cash price of a television is Rs. 4022. A customer paid Rs. 1500 in cash and promised to pay

the remaining money in 3 monthly equal instalments at the rate of 5% per annum compound interest.

What is the value of each instalment?

A: Rs. 926.10

B: Rs. 903.33

C: Rs. 928.30

D: Rs. 940.50

Correct Answer : A

7. The pAnswerulation of a village decreases at the rate of 20% per annum. If its pAnswerulation 2 years ago

was 10000, what is its present pAnswerulation?

A: 6000

B: 10000/144

C: 6400

D: 7600

Correct Answer : C

8. A certain sum of money at simple interest becomes Rs. 1062 in 2 years and Rs. 1183.50 in 31⁄2

years. What is rate of interest per annum?

A: 7%

B: 6%

C: 9%

D: 5%

Correct Answer : C

9. If the simple interest on a sum at 4% per annum for 2 years is Rs. 80, then the compound interest

on the same sum for the same period is:

A: Rs. 86.80

B: Rs. 86.10

C: Rs. 88.65

D: Rs. 81.60

Correct Answer : D

10. A man covers a distance of 1200 km in 70 days resting 9 hours a day, if he rests 10 hours a day and

walks with speed 11⁄2 times of the previous in how many days will he cover 750 km?

A: 30

B: 31.25

C: 31

D: 33

Correct Answer : B

11. A man bought a number of clips at 3 for a rupee and an equal number at 2 for a rupee. At what

price per dozen should he sell them to make a profit of 20% ?

A: Rs 4

B: Rs 5

C: Rs 6

D: Rs 7

Correct Answer : C

12. Padam purchased 30 kg of rice at the rate of 17.50 per kg and another 30 kg rice at a certain rate.

He mixed the two and sold the entire quantity at the rate of Rs. 18.60 per kg and made 20% overall

profit. At what price per kg did he purchase the lot

A: Rs.12.50

B: Rs. 13.50

C: Rs. 14.50

D: Rs. 15.50

Correct Answer : B

13. The manufacturer of a certain item can sell all he can produce at the selling price of Rs. 60 each. It

costs him Rs. 40 in materials and labour to produce each item and he has overhead expenses of Rs. 3000

per week in order to Answererate the plant. The numb

A: 200

B: 250

C: 300

D: 400

Correct Answer : A

14. A sells a bicycle to B at a profit of 20%. B sells it to C at a profit of 25%. If C pays Rs. 225 for it, the

cost price of the bicycle for A is:

A: Rs. 110

B: Rs.120

C: Rs. 125

D: Rs. 150

Correct Answer : D

15. If 5% more is gained by selling an article for Rs. 350 than by selling it for Rs. 340, the cost of the

article is:

A: Rs. 50

B: Rs. 160

C: Rs. 200

D: Rs. 225

Correct Answer : C

16. Consider the following statements : If a sum of money is lent at simple interest, then the

1. Money gets doubled in 5 years if the rate of interest is 50/3 %.

2. Money gets doubled in 5 years if the rate of interest is 20%.

3. Money becomes

A: 1 and 3 are correct

B: 2 alone is correct

C: 3 alone is correct

D: 2 and 3 are correct

Correct Answer : B

17. The difference between simple interest and compound interest on Rs.1200 for one year at 10%

per annum reckoned half-yearly is:

A: Rs. 2.50

B: Rs. 3

C: Rs. 3.75

D: Rs. 4

Correct Answer : B

18. A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs. 482

more, if the interest was payable half-yearly than if it was payable annually. The sum is:

A: Rs. 10,000

B: Rs. 20,000

C: Rs. 40,000

D: Rs. 50,000

Correct Answer : B

19. The simple interest on Rs. 10 for 4 months at the rate of 3 paise per rupee per month is:

A: Rs. 1.20

B: Rs. 1.60

C: Rs. 2.40

D: Rs. 3.60

Correct Answer : A

20. If the compound interest on a sum for 2 years at 25/2 % per annum is Rs. 510, the simple interest

on the same sum at the same rate for the same period of time is:

A: Rs. 400

B: Rs. 450

C: Rs. 460

D: Rs. 480

Correct Answer : D

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