Calculate Selling Price using Cost and Loss Percent

How to calculate selling price using cost and loss percent?

We know, selling price = cost price - loss

              selling price = cost price - loss% × cost price/100

              selling price = 100 × cost price - loss% × cost price/100

              selling price = (100 - loss%)cost price/100, [Here, cost price and loss% are known.]

Solved examples will help us to find selling price when the cost price and loss% are known:

1. Shelly bought a dress for $150 and sold it to Jenny there by suffering a loss of 10%. Find the selling price of the dress.

Solution:            

Given cost price = $150

Loss% = 10%                                                      

We know, selling price = (100 - loss%)cost price/100                                       

                              = (100 - 10)150/100                              

                              = 90 × 150/100                                       

                              = 9 × 15

                              = $135        

Therefore, selling price of the dress is $135.       

 

2. Mike bought a laptop for $800 and sold it to Jack there by suffering a loss of 12%. Find the selling price of the laptop.

Solution:            

Given cost price = $800                 

Loss% = 12%                                                      

We know, selling price = (100 - loss%)cost price/100                                       

                              = (100 - 12)800/100                              

                              = 88 × 800/100                                       

                              = 88 × 8

                              = $724        

Therefore, selling price of the laptop is $724.                     


3. By selling a chair for $372, Daisy loses 7%. At what price must she sell it to gain 10%.

Solution:            

Given selling price = $ 372                           

Loss % = 7%

We know, cost price = selling price × 100/100 - loss%                      

Therefore, cost price = 372 × 100/100 - 7                              

                             = 372 × 100/93                                  

                             = $400                                                  

Now cost price = $400                                                   

Gain% = 10%                                                                     

Therefore, selling price = (100 + gain%)cost price/100                                    

                               = (100 + 10)400/100                                

                               = 110 × 4

                               = $440            




7th Grade Math Problems

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