All the students who wish to know about the price strategy can make this page as a reference. Here we are going to discuss how to find Cost Price or Selling Price When Profit or Loss is given. First, the students must know what is the difference between the cost price and selling price and their formulas. There are some techniques to find the C.P and S.P when profit or loss are provided. 5th grade students can check out the problems to find the cost price and selling price given loss or profit from the below sections.
Do Refer:
- Calculating Cost Price
- Calculating Selling Price
- Calculate Selling Price using Cost and Profit Percent
Cost Price and Selling Price – Definition
Cost Price – Cost price is also known as C.P. It is the original price of the product. The total amount that it costs a manufacturer to produce the product is called cost price.
Selling Price – Selling price is also known as market price. It is the price of the product that is fixed by the shopkeeper. The selling price depends on the demand for the product or item.
Formula to find Cost Price
The formulas that are used to find cost price and selling price when loss or profit are given are as follows,
- Cost price = 100/(100 + profit percentage) × selling price
- Cost price = 100/(100 – loss percentage) × selling price
Formula to find the Selling price
- Selling Price = Cost Price + Profit
- Selling Price = Cost Price + Profit percentage/100 × Cost Price
- Selling Price = Cost Price[(100 + Profit Percentage)/100]
Calculating Cost Price or Selling Price when Profit or Loss is Given
Let us discuss the concept of finding Cost Price or Selling Price when Profit or Loss is given with some examples.
Example 1.
Mari sold a car for $30000 at a Profit of $300. Find the price at which he bought it?
Solution:
Given,
The selling price of a car = $30000
Mari get a profit of $300
Cost price = selling price – profit
Cost price = 30000 – 300
=$29700
Thus the price of a car = $29700
Example 2.
Roy has a building worth $84000 and he wants to sell it at a profit of $8000 what should the building price be?
Solution:
Given,
Cost of a building = $84000
The profit that he wants = $8000
Selling price = cost price + profit
Selling price = $84000 + $8000
= $92000
Thus the selling price of a building = $92000
Also Read Articles:
- Calculate Selling Price using Cost and Loss Percent
- Calculate Profit and Profit Percent
- Worksheet on Calculating Selling Price and Cost Price
Example 3.
If a table was sold for $1000 at a loss of $100. Find the cost price of the chair?
Solution:
Given,
The selling price of a table = $1000
Loss of a table = $100
Cost price = selling price + loss
Cost price = $1000 + $100
= $1100
Therefore the cost price of a chair = $1100
Example 4.
Maya sold a pen for $20 at a Profit of $2. Find the price at which he bought it?
Solution:
The selling price of a pen = $20
He get a profit = $2
Cost price = selling price – profit
Cost price = 20 – 2
=$18
The cost price of a pen = $18
Example 5.
Srikanth has a bike worth $28000 and he wants to sell it at a profit of $1850 what should the bike price be?
Solution:
Cost of a bike = $28000
The profit that he wants = $1850
Selling price = $28000 + $1850 = $29850
The selling price of a bike would be = $29850