To find cost price or selling price when profit or loss is given are discussed here.
For example:
1. Maria sold a bicycle for $ 24900 at a profit of $ 600. Find the price at which she bought it.
Solution:
Selling Price = $ 24900
Profit = $ 600
Cost Price = Selling Price – Profit
Cost Price = 24900 – 600
= $ 24300
Therefore, Maria bought it at $ 24300.
Answer: $ 24300
2. Ron has a cycle worth $ 1800 and he wants to sell it at a profit of $ 220. What should cycles selling price be?
Solution:
Cost Price = $ 1800
Profit = $ 220
Selling Price = Cost Price + Profit
Selling Price = 1800 + 220
= $ 2020
Selling price of the cycle = $ 2020
Answers: $ 2020
3. Diane sold a book worth $ 850 at a loss of $ 180. Find the selling price of the book.
Solution:
Cost Price = $ 850
Loss = $ 180
Since, Selling Price = Cost Price + Loss
Selling Price = 850 - 180
= $670
Therefore, selling price of the book = $ 670
Answers: $ 670
4. If a chair was sold for $ 990 at a loss of $ 110. Find the cost price of the chair.
Solution:
Selling Price = $ 990,
Loss = $ 110
Cost Price = Selling Price + Loss
Cost Price = 990 + 110
= $ 1100
Therefore, cost price of the chair = $ 1100
Answers: $ 1100
To find Cost Price or Selling Price when Profit or Loss is given.
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