Every product in the market has a cost price and selling price. To determine the product price in the market and also to understand the profit of the business, we use the formula of cost price and selling price. Know about the cost price, selling price and rates of profit and loss formula, definition, solved examples, real-time situations, etc.<\/p>\n
Suppose that you went to a shopping mall to buy a new shirt worth Rs. 900. Also, suppose that you find the 10% off tag on it. The tag you find on it is the discount offered on the shirt. After calculating the discount value, the final price of the shirt is the selling price of the shirt. To know the complete details of cost price, selling price, and rates of profit and loss, check the below sections. Learn all the 9th grade math<\/a> concepts along with calculating Cost Price and Selling Price.<\/p>\n Also, Check:<\/p>\n Read the below definitions and note down the formula to solve all the problems on Cost Price and Selling Price.<\/p>\n Cost Price<\/strong><\/p>\n The amount of value paid to purchase the article or the amount at which the product is made is determined as the cost price. The abbreviation of the cost price is C.P.<\/p>\n Selling Price<\/strong><\/p>\n After all the discounts and margins, the final price at which the article is sold is determined as the selling price. The abbreviation of the selling price is S.P.<\/p>\n Discount<\/strong><\/p>\n Discount is the percentage of a commodity or good that is subtracted from the actual amount of good that is to be sold.<\/p>\n Profit<\/strong><\/p>\n The amount or price gained by selling a product or commodity is called profit.<\/p>\n Loss<\/strong><\/p>\n The amount or price that is incurred after selling the commodity or product less than the cost price, is called a Loss.<\/p>\n Do Refer:<\/p>\n The formulas for cost price, selling price, and rates of profit and loss are as follows:<\/p>\n (i) The formula for Profit and Profit Percentage is (ii) The formula for Loss and Loss Percentage is (iii) The formula for Cost Price is (iv) The formula for Selling Price is To calculate the cost price<\/a>, we have to follow a few steps:<\/p>\n To calculate the selling price<\/a>, we have to follow a few steps:<\/p>\n Check out the below examples to learn the in-depth concepts of cost price and selling price.<\/p>\n Example 1: <\/strong>The shopkeeper bought a washing machine for Rs. 18000. He sold that washing machine for 10% profit. Find the price of the washing machine at which the customer will buy it. Also, find the earned profit or loss by the shopkeeper?<\/p>\n Solution:<\/strong> Given that, Therefore, the profit earned is 1800. Hence, the selling price of the washing machine is 19,800, the profit earned is 1800.<\/p>\n Example 2:<\/strong> Shiva sold an item for the price of Rs. 760. He sold it for a loss of 5%. Find the price at which he bought that item and also find the loss amount for Shiva?<\/p>\n Solution:<\/strong> Given that, Hence, the loss amount is 40.<\/p>\n Example 3:<\/strong> Shravan bought a TV for Rs. 10,000 and sold a profit of 15%. Find the amount of money Shravan gets for it?<\/p>\n Solution:<\/strong> Given that, Therefore, Shravan got Rs. 1500 as profit and sold the TV for Rs. 11,500.<\/p>\n 1. What are the selling price and cost price?<\/strong><\/p>\n The selling price is the price that the product or item is to be sold for a particular amount. Also, the cost price is the price that the product or item is to be purchased for a particular amount.<\/p>\n 2. How do you calculate profit and loss?<\/strong><\/p>\n We can find the profit and loss by calculating the differences between the total income to total expenses. If the total income is greater than the expenses, it is profit or if the total income is less than the expenses, then it is a loss.<\/p>\n 3. What is the formula of profit percentage and formula of loss percentage?<\/strong><\/p>\n The profit percentage formula is 100 \u00d7 Profit\/Cost Price. Also, the loss percentage formula is 100 \u00d7 Loss\/Cost Price.<\/p>\n 4. What are Profit and Loss Formulas?<\/strong><\/p>\n The Profit and Loss Formulas are Cost Price, Selling Price, and Rates of Profit and Loss helps in applying the formulas in solving the various problems. Follow the various problems, formulae, and definitions of profit, cost price, loss, and selling price here.<\/p>\n","protected":false},"excerpt":{"rendered":" Every product in the market has a cost price and selling price. To determine the product price in the market and also to understand the profit of the business, we use the formula of cost price and selling price. 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Main Concepts of Cost Price and Selling Price<\/h2>\n
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Formulas for Cost Price, Selling Price and Rates of Profit and Loss<\/h3>\n
\nProfit = Selling Price – Cost Price
\nProfit Percentage = (Profit \/ C.P) * 100<\/p>\n
\nLoss = Cost Price – Selling Price
\nLoss Percentage = (Loss \/ C.P) * 100<\/p>\n
\nCost Price = Selling Price – Profit<\/p>\n
\nSelling Price = Cost Price + Profit<\/p>\nHow to Calculate Cost Price?<\/h3>\n
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How to Calculate Selling Price?<\/h3>\n
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Solved Examples on Cost Price, Selling Price and Rates of Profit and Loss<\/h3>\n
\nCost Price = Rs. 18,000
\nProfit = 10%
\nThe formula to find the selling price of the washing machine is
\nSP = CP * [(100 + Profit%) \/ 100]
\nHere, SP is the selling price
\nCP is the cost price
\nSelling Price = CP * [(100 + Profit%) \/ 100]
\nSP = 18000 * [(100 + 10%) \/ 100]
\nSP = 18000 * 110 \/ 100
\nSP = 19,800
\nThe selling price of the washing machine is Rs. 19,800
\nAs selling price is greater than cost price, the profit is earned by the shopkeeper
\nProfit = Selling Price – Cost Price
\nProfit = 19,800 – 18,000
\nProfit = 1800<\/p>\n
\nSelling Price of an item = Rs. 760
\nLoss = 5%
\nLet the cost price of an item be x.
\nLoss = x * 5\/100 = Rs. x\/20
\nSo, the selling price is x – x\/20 = Rs. 19x\/20
\nAs we know that the selling price = Rs. 760
\n19x\/20 = 760
\nx = 760 * 20\/19
\nx = Rs. 800
\nTherefore, the cost price of the item = Rs. 800
\nTo find the loss amount we have to find the 5% of 800
\n5% of 800 is 40<\/p>\n
\nCost Price = Rs. 10,000
\nProfit = 15%
\nTo find the selling price of the TV, we use the formula
\nProfit = Cost Price * Profit%
\nProfit = 1000 * 15\/100
\nProfit = Rs. 1500
\nTo find the selling price, the formula used is
\nSelling Price = Profit + Cost Price
\nSelling Price = 1500 + 10000
\nSelling Price = Rs. 11500<\/p>\nFAQs on Cost Price, Selling Price, and Rates of Profit and Loss<\/h3>\n
\nProfit = Selling Price – Cost Price
\nLoss = Cost Price – Selling Price.<\/p>\n