Hey, guys are you interested in cost price, selling price, profit, loss? If you are willing to know about pricing strategy we will guide you to learn about them. The concept of calculating selling price is discussed in this article. Before going into the topic let us discuss the selling price. Selling price means the price of the product or good we are buying from the salesman.
The concept of the selling price is seen in our daily life when we go to shops to buy vegetables, staples, electrical appliances, etc. We will explain the concept of selling price or market price with questions and answers along with step by step explanation here. Know more about selling price, cost price on 5th grade math where you can find word problems, worksheets, practice tests, examples, and so on.
What is a Selling Price?
The selling price is well known as the market price. Selling Price is the amount a buyer or customer pays for a product or goods. The sales price of the product depends on customer needs and how much the customer is willing to pay and how much the shopkeeper of the salesman is willing to accept the price for the product.
Sales Price = Cost Price + Profit Margin
Formulas for Calculating Selling Price
The formulas for calculating the selling price are given below
- Selling price = Cost price + profit
- Selling price = marked/list price – discount
- Selling price = (100 + profit percentage)/100 × cost price
- Selling price = (100 – loss percentage)/100 × cost price
- Profit = selling price – cost price
- Loss = Cost price – Selling price
How to Calculate Selling Price Per Unit?
1. First we have to determine the total cost of all the units bought.
2. Next, divide the total cost by the number of units purchased to get the cost price.
3. Use the selling price to calculate the final price
Selling Price = Cost Price + Gross Margin
Selling Price Examples
Rohan bought a pen for $ 20 and sold it at a profit of 3 Percentage find the Selling price of a pen?
Rohan bought a pen = $20
Pen sold for a profit = 3%
Selling price of a pen = cost price [100 + profit percentage / 100]
20[100 + 3/100]
Hence the selling price of a pen is $20.03
Shamala buys milk for Rs 80 and she sold at a profit of 2 percentage. Find the selling price of the milk?
Shamala buy a milk = 80
She sold at a profit = 2%
Selling price of a milk = 100 × cost price + profit percentage × cost price / 100
= 100 × 80 + 2 × 80/100
= 8000 + 2 × 80/100
Thus the selling price of the milk is Rs. 81.60
Joy bought a computer for $400 and he sold it at a Profit of 25 percentage find the selling price of the computer?
Joy bought a computer = $400
He sold for a profit of = 25 %
The selling price of a milk = 100 × cost price + profit percentage × cost price / 100
400[100 + 25]\100
Therefore the selling price of the computer is $500.
Tiny bought a book for Rs 100 she sold at a profit of Rs 25. find the selling price of the book?
Tiny bought a book for = 100 Rs
She sold at a profit = 25 Rs
Selling price = cost price + profit
= Rs. 100 + Rs. 25
Thus the selling price of the book is Rs. 125.
Raju buys a machine for $150 and he sold it at a profit of 16%. Find the selling price of the machine.
Raju buy a machine for = $150
He sold at a profit = 16%
Selling price of the Machine = cost price [ 100 + profit percentage / 100]
150[100 + 16/100]
Thus the market price of the machine is $174.
Refer to the related articles on cost price and selling price
|Calculating Cost Price|
|Calculate Cost Price using Sell Price and Loss Percent|
|Calculate Selling Price using Cost and Loss Percent|
|Calculate Cost Price using Sell Price and Profit Percent|
|Worksheet on Calculating Selling Price and Cost Price|
FAQs on Calculating Selling Price
1. What is the difference between cost price and selling price?
Cost price is the amount to purchase the product at which the product is made.
Selling Price is the price at which a product is sold. The selling price is also known as the market price.
2. What is the selling price minus cost price?
Margin or gross margin is the difference in selling price and cost price of the goods sold.
Margin (Gross Margin) = Selling Price (S.P) – Cost Price (C.P)
3. How do you calculate profit margin from selling price?
To calculate the profit margin from the market price we have to subtract the cost from the sales price to get the profit margin and divide the margin into the selling price for the profit margin percentage.