The Selling Price is easily calculated when the Cost and Profit Percent are given. Calculate Selling Price using Cost and Profit Percent and apply them to your real-time problems. Check out the various problems and their solving methods to find the Selling Price when the Cost Price and Profit Percent are given. We have included real-life examples for your practice. Don’t miss any problems to learn the complete concept.
Also, See:
- Calculate Cost Price using Sell Price and Loss Percent
- Calculate Cost Price using Sell Price and Profit Percent
- Calculate Selling Price using Cost and Loss Percent
How to Calculate Selling Price Using Cost and Profit Percent?
Step by step procedure is given for you to find out the Selling Price Using Cost and Profit Percent. It is really easy to find the selling price when you know the cost price and Profit Percent. Therefore, check out the procedure and follow the steps while solving problems.
1. Find out the Cost price and Profit Percent from the given problem.
2. Note down the formula of Selling Price.
3. In the next step, substitute the Cost price and Profit Percent in the formula.
4. Finally, find the selling price.
Selling Price Formula when Cost and Profit Percent are Known
The Selling Price Formula is the important thing to remember to calculate all the problems when Cost and Profit Percent are given. Without missing, anyone, remember all the formulas and use them while calculating problems.
- Selling price = cost price + profit
- Selling price = cost price + profit%/100 × cost price
- The selling price = 100 × cost price + profit% × cost price/100
- selling price = (100 + profit%)cost price/100; [Here, cost price and profit% are known.]
Solved Examples to Find the Selling Price Using Cost and Profit Percent
1. Ram bought a Colors Box for $100 and sold it at a profit of 20%. Find the selling price of the book?
Solution:
Given that Ram bought a Colors Box for $100 and sold it at a profit of 20%.
The cost price of the Colors Box = $100
Profit Percentage = 20%
We know that selling price = (100 + profit%)cost price/100
Substitute the cost price and the profit% in the above formula.
Selling price = (100 + 20)100/100
Selling price = 120 × 100/100
The Selling price = $120
Therefore, the Selling price of the Colors Box is $120.
2. Alex bought a music system for $180. For how much should he sell the music system to gain 10%?
Solution:
Given that Alex bought a music system for $180.
The cost price of the music system = $180
Profit Percentage = 10%
We know that selling price = (100 + profit%)cost price/100
Substitute the cost price and the profit% in the above formula.
Selling price = (100 + 10)180/100
Selling price = 110 × 180/100
The Selling price = $198
Therefore, the Selling price of the music system is $198.
3. Robert bought a washing machine for $800 and sold it at a profit of 4%. Find the selling price of the washing machine?
Solution:
Given that Robert bought a washing machine for $800 and sold it at a profit of 4%.
The cost price of the washing machine = $800
Profit Percentage = 4%
We know that selling price = (100 + profit%)cost price/100
Substitute the cost price and the profit% in the above formula.
Selling price = (100 + 4)800/100
Selling price = 104 × 800/100
The Selling price = $832
Therefore, the Selling price of the washing machine is $832.