Subscribe to our YouTube channel for the latest videos, updates, and tips.


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




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.



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.




Share this page: What’s this?

Recent Articles

  1. 5th Grade Temperature | Fahrenheit Scale | Celsius Scale | Thermometer

    Jun 20, 25 12:58 PM

    Mercury Thermometer
    We will discuss here about the concept of temperature. We have already learned about various types of measurements like length, mass capacity and time. But if we have fever, non of these measurements

    Read More

  2. Converting the Temperature from Fahrenheit to Celsius | Examples

    Jun 20, 25 12:53 PM

    In converting the temperature from Fahrenheit to Celsius the formula is, C = (5/9)(F - 32); The steps of converting from Fahrenheit to Celsius are reversed here.

    Read More

  3. Converting the Temperature from Celsius to Fahrenheit | Examples

    Jun 20, 25 12:01 PM

    In converting the temperature from Celsius to Fahrenheit the formula is F = (9/5)C + 32. Steps of converting from Celsius (°C) to Fahrenheit (°F)

    Read More

  4. Word Problems on Simple Interest | Simple Interest Formula | Worksheet

    Jun 20, 25 01:12 AM

    Word Problems on Simple Interest are solved here: 1. Robert deposits $ 3000 in State Bank of India for 3 year which earn him an interest of 8%.What is the amount

    Read More

  5. Worksheet on Simple Interest | Word problem on Simple Interest | Free

    Jun 19, 25 02:54 AM

    Worksheet on Simple Interest 2
    In worksheet on simple interest we will get different types of question on calculating the simple interest, the principal amount, the rate of interest and the word problems on simple interest.

    Read More