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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