How to calculate selling price using cost and profit percent?

We know, selling price = cost price + profit

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

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

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

= (100 + 10)100/100

= (110)100/100

= 110 × 100/100

= $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 = (100 + gain%)cost price/100

= (100 + 10)260/100

= (110)260/100

= 110 × 260/100

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

= (100 + 15)1200/100

= (115)1200/100

= 115 × 1200/100

= $1380

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

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