## 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**