Calculate Cost Price using Sell Price and Profit Percent

How to calculate cost price using sell price and profit percent?

We know that   cost price = selling price - profit

                      cost price = selling price - \(\frac{Profit  Percentage}{100}\) × cost price

                      cost price + \(\frac{Profit  Percentage}{100}\) × cost price = selling price

                      cost price [1 + \(\frac{Profit  Percentage}{100}\)] = selling price

                      cost price [\(\frac{100 + Profit  Percentage}{100}\)] = selling price

Also, cost price = \(\frac{Selling  Price × 100}{100 + Profit  Percentage}\); (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 =  \(\frac{Selling  Price × 100}{100 + Gain  Percentage}\)                  

Therefore, cost price =  \(\frac{324 × 100}{100 + 8}\)              

                              = \(\frac{324 × 100}{108}\) 

                              = 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 = \(\frac{Selling  Price × 100}{100 + Gain  Percentage}\)                 

Therefore, cost price = \(\frac{575 × 100}{100 + 15}\)                           

                             = \(\frac{575 × 100}{115}\)

                             = \(\frac{57500}{115}\)

                             = $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


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.



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.



Share this page: What’s this?

Recent Articles

  1. Properties of Multiplication | Multiplicative Identity | Whole Numbers

    Mar 29, 24 09:02 AM

    Properties of Multiplication of Whole Numbers
    There are six properties of multiplication of whole numbers that will help to solve the problems easily. The six properties of multiplication are Closure Property, Commutative Property, Zero Property…

    Read More

  2. Multiplication of a Number by a 3-Digit Number |3-Digit Multiplication

    Mar 28, 24 06:33 PM

    Multiplying by 3-Digit Number
    In multiplication of a number by a 3-digit number are explained here step by step. Consider the following examples on multiplication of a number by a 3-digit number: 1. Find the product of 36 × 137

    Read More

  3. Multiply a Number by a 2-Digit Number | Multiplying 2-Digit by 2-Digit

    Mar 27, 24 05:21 PM

    Multiply 2-Digit Numbers by a 2-Digit Numbers
    How to multiply a number by a 2-digit number? We shall revise here to multiply 2-digit and 3-digit numbers by a 2-digit number (multiplier) as well as learn another procedure for the multiplication of…

    Read More

  4. Multiplication by 1-digit Number | Multiplying 1-Digit by 4-Digit

    Mar 26, 24 04:14 PM

    Multiplication by 1-digit Number
    How to Multiply by a 1-Digit Number We will learn how to multiply any number by a one-digit number. Multiply 2154 and 4. Solution: Step I: Arrange the numbers vertically. Step II: First multiply the d…

    Read More

  5. Multiplying 3-Digit Number by 1-Digit Number | Three-Digit Multiplicat

    Mar 25, 24 05:36 PM

    Multiplying 3-Digit Number by 1-Digit Number
    Here we will learn multiplying 3-digit number by 1-digit number. In two different ways we will learn to multiply a two-digit number by a one-digit number. 1. Multiply 201 by 3 Step I: Arrange the numb…

    Read More