Calculate Selling Price using Cost and Loss Percent

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.



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. Successor and Predecessor | Successor of a Whole Number | Predecessor

    May 24, 24 06:42 PM

    Successor and Predecessor of a Whole Number
    The number that comes just before a number is called the predecessor. So, the predecessor of a given number is 1 less than the given number. Successor of a given number is 1 more than the given number…

    Read More

  2. Counting Natural Numbers | Definition of Natural Numbers | Counting

    May 24, 24 06:23 PM

    Natural numbers are all the numbers from 1 onwards, i.e., 1, 2, 3, 4, 5, …... and are used for counting. We know since our childhood we are using numbers 1, 2, 3, 4, 5, 6, ………..

    Read More

  3. Whole Numbers | Definition of Whole Numbers | Smallest Whole Number

    May 24, 24 06:22 PM

    The whole numbers are the counting numbers including 0. We have seen that the numbers 1, 2, 3, 4, 5, 6……. etc. are natural numbers. These natural numbers along with the number zero

    Read More

  4. Math Questions Answers | Solved Math Questions and Answers | Free Math

    May 24, 24 05:37 PM

    Math Questions Answers
    In math questions answers each questions are solved with explanation. The questions are based from different topics. Care has been taken to solve the questions in such a way that students

    Read More

  5. Estimating Sum and Difference | Reasonable Estimate | Procedure | Math

    May 24, 24 05:09 PM

    Estimating Sum or Difference
    The procedure of estimating sum and difference are in the following examples. Example 1: Estimate the sum 5290 + 17986 by estimating the numbers to their nearest (i) hundreds (ii) thousands.

    Read More