How to calculate cost price using sell price and profit percent?

We know that cost price = selling price - profit

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

cost price + profit% × cost price/100 = selling price

cost price(1 - profit%)/100 = selling price

cost price(100 + profit%)/100 = selling price

Also, cost price = selling price × 100/100 + profit% (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 = selling price × 100/100 + gain%

Therefore, cost price = 324 × 100/100 + 8

= 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 = selling price × 100/100 + gain%

Therefore, cost price = 575 × 100/100 + 15

= 575 × 100/115

= 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**

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