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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 - LossPercentage×CostPrice100

              Selling Price = 100×CostPriceLossPercentage×CostPrice100

              Selling Price = Cost Price (100LossPercentage100), [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 (100LossPercentage100)

                              =  150 (10010100)     

                              =  150 (90100     

                              =  (150×90100                 

                              = 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 (100LossPercentage100)

                              = 800 (10012100             

                              = 800×88100                       

                              = 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 = SellingPrice×100100LossPercentage 

Therefore, cost price = 372×1001007          

                              = 372×10093   

                              = $400                                                  

Now cost price = $400                                                   

Gain% = 10%                                                                     

Therefore, selling price = Cost Price [100+GainPercentage100]

                               = 400 [100+10100]                    

                               = 110 × 4

                               = $440            




7th Grade Math Problems

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