How to calculate cost price using sell price and profit percent?
We know that cost price = selling price  profit
cost price = selling price  profit% × cost price/100
cost price + profit% × cost price/100 = selling price
cost price(1  profit%)/100 = selling price
cost price(100 + profit%)/100 = selling price
Also, cost price = selling price × 100/100 + profit% (on cross multiplication);
Here, selling price and loss% is known.
Solved examples will help us to find cost price when the selling price and profit% are known:
1. A bag was sold for $324 thereby gaining 8%. Find the cost price of the bag.
Solution:
Given selling price = $324
Gain% = 8%
We know, cost price = selling price × 100/100 + gain%
Therefore, cost price = 324 × 100/100 + 8
= 324 × 100/108
= 12 × 25
= $300
Therefore, the cost price of the bag is $300.
2. A book was sold for $575 thereby gaining 15%. Find the cost price of the book.
Solution:
Given selling price = $575
Gain% = 15%
We know, cost price = selling price × 100/100 + gain%
Therefore, cost price = 575 × 100/100 + 15
= 575 × 100/115
= 57500/115
= $500
Therefore, the cost price of the book is $500.
`7th Grade Math Problems
From Calculate Cost Price using Sell Price and Profit Percent to HOME PAGE
Didn't find what you were looking for? Or want to know more information about Math Only Math. Use this Google Search to find what you need.

New! Comments
Have your say about what you just read! Leave me a comment in the box below. Ask a Question or Answer a Question.