This set of Aptitude Questions and Answers (MCQs) focuses on “Cost Price and Selling Price – Set 2”.
1. The cost price of an article is increased by 20%. If the profit earned initially was 20% of the cost price and the initial selling price was 6000, find the new cost price.
a) 5000
b) 6000
c) 7000
d) 5500
View Answer
Explanation: Let the initial cost price be x.
The initial profit = 20% of x = 0.2x
The initial selling price = x + 0.2x = 1.2x = 6000
X = 6000 / 1.2 * 1 = 5000
The new cost price = initial cost price + 20 % of the initial cost price = 5000 + 20% of 5000 = 5000 + 1000 = 6000
2. The cost price is increased to 150% of its own. If the selling price remains constant, what is the new profit or loss percent. The initial profit was 40% of the selling price.
a) 10% profit
b) 10% loss
c) 20% loss
d) 25% loss
View Answer
Explanation: Let the initial selling price be x.
The initial profit = 40% of the selling price = 40% of x = 0.4x
The initial cost price = selling price – profit = x – 0.4x = 0.6x
The new cost price = 150% of its previous price = 150% of .6x = 0.9x
The new profit = x – 0.9x = 0.1x
The new profit percentage = 0.1x / x * 100 = 10% profit
3. The cost of an article is 70% of the selling price. If there is an excess expenditure on sales of 800 rupees still the trader manages to earn a profit of 20%, find the cost price.
a) 3000 rupees
b) 3500 rupees
c) 4500 rupees
d) 7000 rupees
View Answer
Explanation: Let the selling price be x.
The selling price = 70% of the selling price = 70% of x = 0.7x
The profit earned = 20% of the cost price = 20% of 0.7x = 0.14x
The excess expenditure = 800 rupees
Cost price + profit = 0.7x + 0.14x = 0.84x
Excess expenditure in terms of x = x – 0.84x = 0.16x
0.16x = 800 rupees
Cost price = 0.7x = 800 / 0.16 * 0.7 = 3500 rupees
4. The selling price of an article is 40 more than the profit. If the cost price is 40% of the selling price find the cost price.
a) 20 rupees
b) 25 rupees
c) 35 rupees
d) 40 rupees
View Answer
Explanation: Let the selling price be x.
Profit = x – 40
Cost price = 40% of x = 0.4x
X – 0.4x = x – 40, 0.4x = 40
Cost price = 40
5. The profit earned on selling an article is 40% of the cost price. If the cost price is 50% of the selling price, what percentage of the selling price is the excess expenditure to sell the article?
a) 30%
b) 25%
c) 20%
d) 22%
View Answer
Explanation: Let the selling price be x.
The cost price in terms of x = 50% of x = 0.5x
The profit = 40% of the cost price = 40% of 0.5x = 0.2x
Cost price + profit = 0.5x + 0.2 = 0.7x
The excess expenditure = x – 0.7x = 0.3x
The excess expenditure percentage in terms of selling price = 0.3x / x * 100 = 30%
6. The selling price of an article is equal to the profit earned by selling 4 such articles. Find the cost price in terms of the selling price.
a) 60% of selling price
b) 40% of selling price
c) 75% of selling price
d) 55% of selling price
View Answer
Explanation: Let the selling price be x.
The selling price of 1 article is equal to the profit earned by selling 4 articles.
The profit earned per article = x / 4 = 0.25x
The cost price = selling price – profit = x – 0.25x = 0.75x
Cost price is 0.75x / x * 100 % of selling price = 75% of selling price.
7. The selling price is 100 rupees more than the cost price. If the profit is 20%, find the cost price.
a) 450 rupees
b) 500 rupees
c) 550 rupees
d) 600 rupees
View Answer
Explanation: Let the cost price be x.
The selling price = x + 100
The profit = 20% of x = 0.2x
X + 0.2x = x + 100
0.2x = 100
X = 500 rupees
8. The profit on selling 5 articles is equal to the cost price of 2 articles. Find the selling price in terms of the cost price.
a) 140% of the cost price
b) 150% of the cost price
c) 180% of the cost price
d) 135% of the cost price
View Answer
Explanation: Let the cost price be x.
The cost price of 2 articles = 2x
The profit on selling 5 articles = cost price of 2 articles = 2x
The profit on selling 1 article = 2x / 5 = 0.4x
The selling price = cost price + profit = x + 0.4x = 1.4x
The selling price in terms of cost price:
1.4x / x * 100 = 140% of the cost price.
9. The cost price of 3 articles is equal to the selling price of 5 articles. Find the selling price in terms of the cost price.
a) 40% of the cost price
b) 45% of the cost price
c) 55% of the cost price
d) 60% of the cost price
View Answer
Explanation: Let the cost price be x.
The cost price of 3 articles = 3x
The selling price of 5 articles = cost price of 3 articles = 3x
The cost price of 5 articles = 5x
The selling price in terms of cost price = 3x / 5x * 100 = 60%
The selling price is 60% of the cost price.
10. The cost price of an article is 40% of the profit earned. Find the selling price in terms of the cost price.
a) 300% of the cost price
b) 310% of the cost price
c) 320% of the cost price
d) 350% of the cost price
View Answer
Explanation: Let the profit earned be x.
The cost price = 40% of profit earned = 40% of x = 0.4x
The selling price = x + 0.4x = 1.4x
The selling price in terms of the cost price:
1.4x / 0.4x * 100 = 350% of the cost price.
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