# Calculate Profit and Selling Price

We will learn how to calculate profit and selling price of an article. We know, selling price is the price at which an article is sold and the seller makes a profit when the selling price is more than the cost price.

Solved examples:

1. A vendor sold 600 quintals of wheat at a gain of 7%. If one quintal of wheat cost him $250 and his total overhead charges for transportation, etc., were$ 1,000, find his total profit and the selling price of 600 quintals of wheat.

Solution:

Cost of one quintal of wheat = $250 Therefore, cost of 600 quintals of wheat =$250 × $600 =$150,000.

Overhead charges = $1,000. Hence, cost price (C.P.) =$150,000 + $1,000 =$151,000.

gain = 7%

Net profit = 7% of $151000 =$7/100 × 151,000

= $1057000/100 =$10,570

Selling price (S.P.) = cost price (C.P.) + gain

= $(151,000 + 10,570) =$161,570.

Therefore, total gain is $10,570 and the selling price is$ 161,570.

2. Mike bought a laptop for $5000 and sold it at a profit of 105. Find the profit and the selling price of the laptop. Solution: Given, C.P. of a laptop =$5000 and profit% of it = 10%

Therefore, profit = profit% of C.P.; (we know, profit is always calculated on C.P.)

= 10% × $5000 = (10/100) ×$5000

= $500 And, S.P. = C.P. + profit =$5000 + $500 =$5500

Therefore, profit is $500 and the selling price is$5500.

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To find Profit or Loss when Cost Price and Selling Price are Given

To find Selling Price when Cost Price and Profit or Loss are Given

To find Cost Price when Selling Price and Profit or Loss are Given

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