AMCAT Previous Years Questions on Profit and Loss



Topics
Sub- Topics
Expected Ques
Basic Mathematics
       6 – 8 Questions
Applied Mathematics
      8 – 10 Questions
Engineering Mathematics
       8 – 10 Questions

Question 1
A merchant sold an article at 10% loss. If he had sold it Rs 450 more, 8% would have been gained on the cost price. Find the cost price?
A. Rs 1200
B. Rs 1800
C. Rs 1500
D. Rs 2500

Correct Op: D
Let the cost price be 100%. It is sold at 10% loss. So it is sold at 90% of the cost price. 90 % of the cost price + 450 = 108% of the Cost price 18% of the cost price = Rs 450 Cost price of the book = 450/18 x 100 = Rs 2500

Question 2
The profit obtained by selling an article for Rs 480 is twice the loss obtained by selling for Rs 300. What is the cost price of the article?
A. Rs 400
B. Rs 420
C. Rs 360
D. Rs 350

Correct Op: C
Here profit is the twice the loss Profit = 2 Loss SP –CP = 2 (CP – SP) 480 –CP = 2(CP – 300) 3 CP = 1080 CP= 360

Question 3
On selling an article for Rs 1020, a merchant loses 15%. For how much price should he sell the article to gain 12% on it ?
A. Rs 1344
B. Rs 1400
C. Rs 1200
D. Rs 1500

Correct Op: A

Question 4
A sells a camera to B at profit of 20% and B sells it to C at a profit of 25%. If C pays Rs 450, what price did A pay for the camera?
A. Rs 300
B. Rs 350
C. Rs 400
D. Rs 450

Correct Op: A

Question 5
A watch was sold at a loss of 10%. If it was sold for Rs.140 more, there would have been a gain of 4%. What is the cost price?
A. Rs.1000
B. Rs.1140
C. Rs.860
D. Rs.760

Correct Op: A

Question 6
A trader bought a car at 20% discount on its original price. He sold it at a 40% increase on the price he bought it. What percent of profit did he make on the original price?
A. 10%
B. 11%
C. 12%
D. 15%

Correct Op: C
Original price = 100 CP = 80 S = 80*(140/100) = 112 100 – 112 = 12%

Question 7
A dishonest dealer professes to sell his goods at Cost Price but still gets 20% profit by using a false weight. What weight does he substitute for a kilogram?
A. 855 1/2 grams
B. 833 1/3 grams
C. 833 1/2 grams
D. 875 2/7 grams

Correct Op: B
If the cost price is Rs.100, then to get a profit of 20%, the selling price should be Rs.120. If 120kg are to be sold, and the dealer gives only 100kg, to get a profit of 20%. How many grams he has to give instead of one kilogram(1000 gm). 120 gm —— 100 gm 1000 gm —— ? (1000 * 100)/120 = 2500/3 = 833 1/3 grams.

Question 8
The C.P of 15 books is equal to the S.P of 18 books. Find his gain% or loss%?
A. 16 2/3% loss
B. 100/3% loss
C. 50/3% profit
D. 100/3% loss

Correct Op: A
15 CP = 18 SP 18 — 3 CP loss 100 — ? => 16 2/3% loss

Question 9
The cost price of 13 articles is equal to the selling price of 11 articles. Find the profit percent?
A. 15 5/15%
B. 18 2/11%
C. 16 2/3%
D. 30%

Correct Op: B

Question 10
A reduction of 20% in the price of salt enables a lady to obtain 10kgs more for Rs.100, find the original price per kg?
A. 2 3/2
B. 2 2/3
C. 2.5
D. 3

Correct Op: C

Question 1
Rs.8000 become Rs.9261 in a certain interval of time at the rate of 5% per annum of C.I. Find the time?
A. 4 years
B. 6 years
C. 2 years
D. 3 years

Correct Op: D

Question 2
A sum of money place at compound interest doubles itself in 4 years. In how many years will it amount to eight times itself?
A. 16
B. 8
C. 12
D. 20

Correct Op: C
100 —- 200 —- 4 400 —- 4 800 —- 4

Question 3
A property decreases in value every year at the rate of 6 1/4% of its value at the beginning of the year its value at the end of 3 years was Rs.21093. Find its value at the beginning of the first year?
A. Rs.25600.24
B. Rs.32000.50
C. Rs.18060.36
D. Rs.18600

Correct Op: A
6 1/4% = 1/16 x *15/16 * 15/16 * 15/16 = 21093 x = 25600.2

Question 4
A certain sum of money amounts to Rs.1300 in 2 years and to Rs. 1525 in 3.5 years. Find the sum and the rate of interest.
A. Rs850, 10%
B. Rs900, 12%
C. Rs800, 13%
D. Rs1000,15%

Correct Op: D
1525-1300= 225 for 1.5 yrs (3.5-2) so for one yr 225/1.5= 150 then for 2 yrs interest is 150+150=300 Then principal 1300-300=1000. Now 150/1000*100= 15%

Question 5
The ratio of the amount for two years under compound interest annually and for one year under simple interest is 6:5. When the rate of interest is same, then the value of rate of interest is:
A. 20%
B. 15%
C. 18%
D. 22%

Correct Op: A
[P(1+r/100)2]/[P(1+r*1/100)]=6/5 1+r/100=6/5 r/100=1/5 r=20%

Question 6
If the simple interest on a certain sum of money is 4/25 of the sum and the rate percent equals the number years, then the rate of interest per annum is:
A. 4%
B. 5%
C. 8%
D. 10%

Correct Op: A
Let the principal be Rs x. Then the SI =4/25x Rate of interest = Time r= (100*4/25x)/ x*r r2 =400/25 r=20/5=4%

Question 7
Find the compound interest on Rs. 20,000 in 2 years at 4 % per annum, the interest being compounded half-yearly.
A. Rs 1648.64
B. Rs. 1596.32
C. Rs. 14826.56
D. Rs. 11563.99

Correct Op: A

Question 8
A certain sum amounts to Rs. 7000 in 2 years and to Rs. 8000 in 3 years. Find the sum.
A. Rs. 6959.37
B. Rs. 6459.37
C. Rs. 5359.37
D. Rs. 5759.37

Correct Op: C

Question 9
Rs.5887 is divided between Shyam and Ram, such that Shyam’s share at the end of 9 years is equal to Ram’s share at the end of 11 years, compounded annually at the rate of 5%. Find the share of Shyam
A. 2088
B. 2000
C. 3087
D. None of these

Correct Op: C

Question 10
Vijay invested Rs.50,000 partly at 10% and partly at 15%. His total income after a year was Rs.7000. How much did he invest at the rate of 10%?
A. Rs.40,000
B. Rs.40,000
C. Rs.12,000
D. Rs.20,000

Correct Op: B