How to calculate selling price using cost and loss percent?
We know, Selling Price = cost price - loss
Selling Price = cost price - \(\frac{Loss Percentage × Cost Price}{100}\)
Selling Price = \(\frac{100 × Cost Price - Loss Percentage × Cost Price}{100}\)
Selling Price = Cost Price (\(\frac{100 - Loss Percentage}{100}\)), [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 = Cost Price (\(\frac{100 - Loss Percentage}{100}\))
= 150 (\(\frac{100 - 10}{100}\))
= 150 (\(\frac{90}{100}\))
= (\(\frac{150 × 90}{100}\))
= 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 = Cost Price (\(\frac{100 - Loss Percentage}{100}\))
= 800 (\(\frac{100 - 12}{100}\))
= \(\frac{800 × 88}{100}\)
= 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 = \(\frac{Selling Price × 100}{100 - Loss Percentage}\)
Therefore, cost price = \(\frac{372 × 100}{100 - 7}\)
= \(\frac{372 × 100}{93}\)
= $400
Now cost price = $400
Gain% = 10%
Therefore, selling price = Cost Price [\(\frac{100 + Gain Percentage}{100}\)]
= 400 [\(\frac{100 + 10}{100}\)]
= 110 × 4
= $440
7th Grade Math Problems
From Calculate Selling Price using Cost and Loss 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.
Dec 06, 23 01:23 AM
Dec 04, 23 02:14 PM
Dec 04, 23 01:50 PM
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.