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