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A company reports a profit of 25% on its cost price. If the cost price of an ite

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Question: A company reports a profit of 25% on its cost price. If the cost price of an item is $200, what is the selling price? (2023)

Options:

  1. $220
  2. $240
  3. $250
  4. $260

Correct Answer: $240

Exam Year: 2023

Solution: 

Selling Price = Cost Price + Profit = 200 + (25% of 200) = 200 + 50 = $250.

A company reports a profit of 25% on its cost price. If the cost price of an ite

Practice Questions

Q1
A company reports a profit of 25% on its cost price. If the cost price of an item is $200, what is the selling price? (2023)
  1. $220
  2. $240
  3. $250
  4. $260

Questions & Step-by-Step Solutions

A company reports a profit of 25% on its cost price. If the cost price of an item is $200, what is the selling price? (2023)
  • Step 1: Identify the cost price of the item, which is $200.
  • Step 2: Calculate the profit percentage, which is 25%.
  • Step 3: Find the amount of profit by calculating 25% of the cost price: 25% of $200 = 0.25 * 200 = $50.
  • Step 4: Add the profit to the cost price to find the selling price: Selling Price = Cost Price + Profit = $200 + $50.
  • Step 5: Calculate the selling price: $200 + $50 = $250.
  • Profit Calculation – Understanding how to calculate profit as a percentage of the cost price and how it affects the selling price.
  • Selling Price Determination – Knowing how to derive the selling price by adding profit to the cost price.
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