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


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.



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.



Share this page: What’s this?

Recent Articles

  1. Multiplication of a Number by a 3-Digit Number |3-Digit Multiplication

    Mar 28, 24 09:40 AM

    Multiplying by 3-Digit Number
    In multiplication of a number by a 3-digit number are explained here step by step. Consider the following examples on multiplication of a number by a 3-digit number: 1. Find the product of 36 × 137

    Read More

  2. Multiply a Number by a 2-Digit Number | Multiplying 2-Digit by 2-Digit

    Mar 27, 24 05:21 PM

    Multiply 2-Digit Numbers by a 2-Digit Numbers
    How to multiply a number by a 2-digit number? We shall revise here to multiply 2-digit and 3-digit numbers by a 2-digit number (multiplier) as well as learn another procedure for the multiplication of…

    Read More

  3. Multiplication by 1-digit Number | Multiplying 1-Digit by 4-Digit

    Mar 26, 24 04:14 PM

    Multiplication by 1-digit Number
    How to Multiply by a 1-Digit Number We will learn how to multiply any number by a one-digit number. Multiply 2154 and 4. Solution: Step I: Arrange the numbers vertically. Step II: First multiply the d…

    Read More

  4. Multiplying 3-Digit Number by 1-Digit Number | Three-Digit Multiplicat

    Mar 25, 24 05:36 PM

    Multiplying 3-Digit Number by 1-Digit Number
    Here we will learn multiplying 3-digit number by 1-digit number. In two different ways we will learn to multiply a two-digit number by a one-digit number. 1. Multiply 201 by 3 Step I: Arrange the numb…

    Read More

  5. Multiplying 2-Digit Number by 1-Digit Number | Multiply Two-Digit Numb

    Mar 25, 24 04:18 PM

    Multiplying 2-Digit Number by 1-Digit Number
    Here we will learn multiplying 2-digit number by 1-digit number. In two different ways we will learn to multiply a two-digit number by a one-digit number. Examples of multiplying 2-digit number by

    Read More