Calculating Cost Price
We will learn how to solve different types of problems on calculating cost price.
Formulas to calculate cost price:
(i) If Selling Price of an article and gain on its selling are given, the Cost Price of the article will be Selling Price minus gain.
Cost Price = Selling Price - Gain
(ii) If Selling Price of an article and loss on its selling are given, the Cost Price of the article will be Selling Price plus loss.
Cost Price = Selling Price + Loss
Solved examples:
1. A merchant sold a table fan for $ 375 at a loss of $ 50. Find the Cost Price of a fan.
Selling Price of the fan =
$ 375
Loss = $ 50
Cost Price = Selling Price + Loss
= $ (375 + 50)
= $ 425.00
Therefore, the Cost Price of a fan is $ 425.00.
2. A book seller bought 12 copies of a book. He sold each of them at $ 20 and thus made a profit of $ 24 by selling all the books. What was the Cost Price of a book?
Selling Price of the book = $ 20 × 12
= $ 240
Profit = $ 24
Cost Price = Selling Price - Profit
= $ (240 - 24)
= $ 216.
Thus, cost of 12 books = $ 216
Cost of 1 book = $ 216 ÷ 12
= $ 18
Therefore, the Cost Price of a book is $ 18.
5th Grade Math Problems
From Calculating Cost Price 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.
Recent Articles
-
Adding 1-Digit Number | Understand the Concept one Digit Number
Sep 17, 24 02:25 AM
Understand the concept of adding 1-digit number with the help of objects as well as numbers. -
Counting Before, After and Between Numbers up to 10 | Number Counting
Sep 17, 24 01:47 AM
Counting before, after and between numbers up to 10 improves the child’s counting skills. -
Worksheet on Three-digit Numbers | Write the Missing Numbers | Pattern
Sep 17, 24 12:10 AM
Practice the questions given in worksheet on three-digit numbers. The questions are based on writing the missing number in the correct order, patterns, 3-digit number in words, number names in figures… -
Arranging Numbers | Ascending Order | Descending Order |Compare Digits
Sep 16, 24 11:24 PM
We know, while arranging numbers from the smallest number to the largest number, then the numbers are arranged in ascending order. Vice-versa while arranging numbers from the largest number to the sma… -
Worksheet on Tens and Ones | Math Place Value |Tens and Ones Questions
Sep 16, 24 02:40 PM
In math place value the worksheet on tens and ones questions are given below so that students can do enough practice which will help the kids to learn further numbers.
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.