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

We will learn how to find cost price when selling price and profit or loss are given.

1. By selling a laptop for $550, a profit of 10% is made. Find its cost price.

Solution:

Let cost price be $100

Profit = 10% of $100

        = 10/100 × $100

        = $10

And selling price = $100 + $10 = $110; [we know, selling price = cost price + profit]

When selling price = $110, cost price = $100

When selling price = $1, cost price = $100/110

And, when selling price = $550, cost price = $100/110 × 550

Therefore, the cost price = $500

2. By selling an article for $270, a loss of 10% is made. Find the cost price of the article.

Solution:

Let cost price be $100

Loss = 10% of $100

       = 10/100 × $100

       = $10

And selling price = $100 - $10 = $90; [since, selling price = cost price - loss]

When selling price = $90, cost price = $100

When selling price = $1, cost price = $100/90

And, when selling price = $270, cost price = $100/90 × 270

Therefore, the cost price = $300

More solved examples to find cost price when selling price and profit or loss are given:

3. An article was sold for $480 at a profit of 20%. Find the cost price of the article.

Solution:

Let cost price be $100.

Profit = 20% of $100

        = 20/100 × $100

        = $20

And selling price = $100 + $20 = $120; [we know, selling price = cost price + profit]

When selling price = $120, then cost price = $100.

When selling price = $1, then cost price = $100/120.

And when selling price = $480, then cost price = $100/120 × 480

Therefore, the cost price = $400.

4. A man sold a watch to his friend at a loss of 5%. If his friend paid $190 for it, find the cost price of the watch.

Solution:

Let cost price be $100.

Loss = 5% of $100

       = 5/100 × $100

       = $5

And selling price = $100 - $5= $95; [we know, selling price = cost price + profit]

When selling price = $95, then cost price = $100

When selling price = $1, then cost price = $100/95

And when selling price = $190, then cost price = $100/95 × 190

Therefore, the cost price of the clock is $200.

Note:

I. Formula to find cost price when selling price and profit percent are given;

Cost price = 1/(profit% + 1) × selling price

II. Formula to find cost price when selling price and loss percent are given;

Cost price = 1/(loss% - 1) × selling price

● Profit And Loss

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

Examples on Profit and Loss

Calculate Profit Percent

Calculate Loss Percent

Calculate Profit or Loss Percent

Calculate Profit and Selling Price

Calculate Loss and Selling Price

Overhead Charges

6th Grade Math Practice

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