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Calculate Selling Price using Cost and Profit Percent

How to calculate selling price using cost and profit percent?

We know, Selling Price = Cost Price + Profit

              Selling Price = Cost Price + ProfitPercentage100 × Cost Price

              Selling Price = 100×CostPrice+ProfitPercentage×CostPrice100

              Selling Price = Cost Price [100+ProfitPercentage100]; [Here, cost price and profit% are known.]


1. Ryan bought a book for $100 and sold it at a profit of 10%. Find the selling price of the book.

Solution:            

Given cost price of the book = $100                        

Profit% = 10%                                                   

We know, Selling Price = Cost Price [100+ProfitPercentage100]

                                 = 100 (100+10100)         

                                 = 100 (110100)    

                                 = 100×110100 

                                 = $110      

Therefore, the selling price of the book is $110.                                

 

2. John bought a music system for $260. For how much should he sell the music system to gain 10%?

Solution:            

Given cost price of the music system = $260       

Gain% = 10%                                                     

We know, Selling Price = Cost Price [100+GainPercentage100]

                              = 260 (100+10100)

                              = 260 (110100)

                              = 260×110100

                              = $286

Therefore, he should sell the music system for $286.


3. Robert bought a machine for $1200 and sold it at a profit of 15%. Find the selling price of the machine.

Solution:            

Given cost price of the machine = $1200                               

Profit% = 15%                                                   

We know, Selling Price = Cost Price [100+ProfitPercentage100]

                                = 1200 (100+15100)          

                                = 1200 (115100)     

                                = 1200×115100

                                = $1380                    

Therefore, the selling price of the machine is $1380.       





7th Grade Math Problems

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