To find Cost Price when Selling Price and Profit or Loss are Given – Definition, Formula, Examples | How to Calculate C.P when S.P, Profit or Loss is Given?

To find Cost Price when Selling Price and Profit or Loss are Given you must know the procedure and also the formula. Check out the entire article to find the cost price when the selling price, profit, or loss are mentioned. We have given tricks and a simple process to solve all the problems in this article. All the 6th Grade Math articles are provided with a clear explanation on our website.

Also, find:

How to Calculate Cost Price when Selling Price and Profit or Loss are Given?

See how-to find Cost Price when Selling Price and Profit or Loss. Check out the clear explanation and step-by-step process to find the cost price.

Calculate Cost Price Using Selling Price and Profit Percent

Find out the procedure to calculate Cost Price Using Sell Price and Profit Percent are given.
(i) Find out the Sell Price and Profit Percent from the given information.
(ii) Note Down the Cost Price Formula when the Sell price and Profit Percent are known.
(iii) Substitute the Sell Price and Profit Percent in the Cost Price Formula.
(iv) Finally, note down the Cost Price Using Sell Price and Profit Percent.

Calculate Cost Price Using Selling Price and Loss Percent

Check out the process to Calculate Cost Price using Sell Price and Loss Percent.
(i) Find out the Sell Price and Loss Percent from the given details.
(ii) Then, note down the Cost Price formula when Sell price and Loss Percent are known.
(iii) Then, substitute the Sell price and Loss Percent in the formula.
(iv) At last find the cost price.

Cost Price Formula using Selling Price and Profit or Loss

Go through the all formula to find the Cost Price of any product when the Sell Price and Profit or Loss percent of that product are given. The formulas for Cost Price Formula when Sell Price and Profit or Loss Percent Known are

Cost Price Formula when Selling Price and Profit Percent are known

Below are the important formulas to calculate Cost Price when the Sell Price and Profit Percent are known.
(i) Cost price = selling price – profit
(ii) Cost price = selling price – profit% × cost price/100
(iii) The Cost price + profit% × cost price/100 = selling price
(iv) Cost price(1 – profit%)/100 = selling price
(v) Cost price(100 + profit%)/100 = selling price
(vi) Also, cost price = selling price × 100/100 + profit% (on cross multiplication);
Here, selling price and loss% are known.

Cost Price Formula when Selling Price and Loss Percent are known

Get all the formulas to calculate cost price when the selling price and loss percent are known.
(i) Cost price = selling price + loss
(ii) Cost price = selling price + loss% × cost price/100
(iii) The Cost price – loss% × cost price/100 = selling price
(iv) Cost price(1 – loss%)/100 = selling price
(v) Cost price(100 – loss%)/100 = selling price
(vi) Also, Cost price = selling price × 100/100 – loss% (on cross multiplication)

Finding Cost Price when Selling Price and Profit or Loss are Given Examples

Question 1.
A charger was sold for $856 thereby gaining 12%. Find the cost price of the charger? Solution: Given that a charger was sold for$856 thereby gaining 12%.
The selling price = $856 Gain Percentage = 12% We know that cost price = selling price × 100/100 + gain% Substitute the selling price and the gain% in the above formula. Cost price =$856 × 100/(100 + 12)
Cost price = $856 × 100/112 The Cost price =$85600/112 = $764.28 Therefore, the cost price of the charger is$764.28

Question 2.
By selling a motorcycle for $148, a shopkeeper loses 20%. How much percent would he gain or lose by selling it for$198?

Solution:
Given that by selling a motorcycle for $148, a shopkeeper loses 20%. The selling price =$148
Loss Percentage = 20%
We know that cost price = selling price × 100/100 – loss%
Substitute the selling price and the loss% in the above formula.
Cost price = $148 × 100/100-20 Cost price =$148 × 100/80
The Cost price = $14800/80 Cost price =$185
Therefore, cost price of the bicycle = $185 Now, if the selling price =$198, then gain = $198 –$185 = $13 Therefore, gain% = gain/cost price × 100 = 13/185 × 100 = 7.027% Therefore, he would have gained 7.027%. Question 3. An electronic device was sold for$1250 thereby gaining 10%. Find the cost price of the electronic device.

Solution:
Given that an electronic device was sold for $1250 thereby gaining 10%. The selling price =$1250
Gain Percentage = 10%
We know that cost price = selling price × 100/100 + gain%
Substitute the selling price and the gain% in the above formula.
Cost price = $1250 × 100/(100 + 10) Cost price =$1250 × 100/110
The Cost price = $1136.3636 Therefore, the cost price of the electronic device is$1136.3636

Question 4.
If the selling price of a book is $18 and the loss percent is 4%, then what is the cost price? Solution: Given that the selling price of a book is$18 and the loss percent is 4%.
The selling price of a book = $18 The loss percent is 4%. Cost price = selling price × 100/100 – loss% Substitute the selling price and the loss% in the above formula. Cost price =$18 × 100/100 – 4
Cost price = $18 × 100/96 The Cost price =$1800/96 = $18.75 Therefore, the cost price of the book is$18.75

Question 5.
By selling an electrical mouse for $620, a trader gains 8%. Find the cost price of the mobile? Solution: Given that by selling an electrical mouse for$620, a trader gains 8%.
The selling price = $620 Gain Percentage = 8% We know that cost price = selling price × 100/100 + gain% Substitute the selling price and the gain% in the above formula. Cost price =$620 × 100/(100 + 8)

Cost price = $620 × 100/108 The Cost price =$574.074

Therefore, the cost price of an electrical mouse is $574.074 Question 6. Find out the cost price of the toy if the selling price is$1675 and the Loss is $77. Solution: Given that the selling price is$1675 and the Loss is $77. The selling price of the toy =$1675
The loss = $77 Loss = Cost Price – Selling Price Cost Price = Loss + Selling Price Substitute the selling price and the loss in the above formula. Cost Price =$77 + $1675 Cost Price =$1752

Therefore, the cost price of the toy is \$1752.

FAQs on

1. What is the Cost Price?

The cost price is the price which is the original price of a product. It is the total amount to produce a product.

2. What is the difference between cost price and selling price?

The amount paid to buy a product or the price at which a product is made is known as its cost price. The price at which the product is sold is known as its selling price.

3. How will you calculate Cost Price?

The cost price is calculated with the given below details.
CP (selling price) when profit% and selling price are given:
CP = {100/(100 + P%)} x SP
CP (selling price) when loss% and selling price are given:
CP = {100/(100 – L%)} x SP

4. Which needs to be greater cost price or selling price to get a profit?

The selling price needs to be greater to get a profit on a product.

Summary

Find out different problems with explanations and solutions in this article. Read the complete article and understand the concept of cost price easily. Frequently Asked Questions and Answers are also given in this article for the best practice for students.

Scroll to Top