Calculating Selling Price

We will learn how to solve different types of problems on calculating selling price.

Formulas to calculate selling price:

(i) If Cost Price of an article and gain on its selling are given, the Selling Price of the article will be sum of its Cost Price and gain.

Selling Price = Cost Price + Gain

(ii) If Cost Price of an article and loss on its selling are given, the Selling Price of the article will be Cost Price minus loss.

Selling Price = Cost Price – Loss

Solved examples:

1. Lila purchased a chair for $ 257. She spent $ 50 on transportation. She sold it at a profit of $ 120. Find the selling price of the chair.

Cost Price of a chair = $ 257

Transportation = $ 50

Total Cost Price = $ 257 + $ 50

                      = $ 307

Profit               = $ 120

Selling Price      = Cost Price + Profit

                      = $ 307 + $ 120

                      = $ 427

Selling Price of the chair = $ 427.

2. A moped is bought at $ 15000. At what should it be sold to make a profit of $ 2180?

Cost Price of a moped = $ 15000

Profit made               = $ 2180

We know Selling Price = Cost Price + Profit

                              = $ 15000 + $ 2180

                              = $ 17180

The moped should be sold at $ 17180.

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