To find Selling Price when Cost Price and Profit or Loss are Given | How do you find the Selling Price on a Profit and Loss?

To find Selling Price when Cost Price and Profit or Loss are Given is clearly explained in this article. It is necessary for everyone to understand what is selling price, cost price, profit, and loss. Every business’s growth and loss are calculated depending on these factors. In this article, know how to calculate the selling price depending on cost price and profit or loss information is given. Also, get the 6th Grade Math articles on our website for free of cost.

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

Find out how to Calculate the Selling price using Cost and Profit or Loss. We have given a clear explanation and step by step process to find the selling price.

Calculate Selling Price Using Cost and Profit Percent

Step by step process to calculate selling price using cost price and profit percent is given below.

(i) Firstly, know the Cost price and Profit Percent from the given information.
(ii) Then, note down the Selling Price formula when Cost price and Profit Percent are known.
(iii) Then, substitute the Cost price and Profit Percent in the formula.
(iv) Lastly, find the selling price.

Calculate Selling Price Using Cost and Loss Percent

Find out the procedure to calculate Selling Price Using Cost and Loss Percent are given.

(i) Find out the Cost price and Loss Percent from the given details.
(ii) Then, note down the Selling Price formula when Cost price and Loss Percent are known.
(iii) Then, substitute the Cost price and Loss Percent in the formula.
(iv) At last find the selling price.

Selling Price Formula using Cost Price and Profit or Loss

You can go through the below formula to find the Selling Price of any product when you know the Cost Price and Profit or Loss percent of that product. The formulas for Selling Price Formula when Cost Price and Profit or Loss Percent Known are

Selling Price Formula when Cost and Profit Percent are known

Below are the formulas we use to calculate selling price when the Cost and Profit Percent are known.

(i) Selling price = cost price + profit
(ii) Selling price = cost price + profit%/100 × cost price
(iii) The selling price = 100 × cost price + profit% × cost price/100
(iv) selling price = (100 + profit%)cost price/100; [Here, cost price and profit% are known.]

Selling Price Formula when Cost and Loss Percent are known

Check out the below formula to find out the Selling Price when Cost and Loss Percent are known.

(i) Selling price = cost price – loss
(ii) Selling price = cost price – loss% × cost price/100
(iii) Selling price = 100 × cost price – loss% × cost price/100
(iv) Selling price = (100 – loss%)cost price/100, [Here, cost price and loss% are known.]

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

We have given different examples to find Selling Price when Cost Price and Profit or Loss are Given.

Question 1.
At what price should Alex sell his laptop which costs her $1250, to make a gain of 10%?

Solution:
Alex sells his laptop which costs her $1250, to make a gain of 10%.
The cost price of the laptop = $1250
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)1250/100
Selling price = 110 × 1250/100
The Selling price = $1375

Therefore, the Selling price of the laptop is $1375.

Question 2.
A shopkeeper buys an electronic device at $4800 each. Due to price falls in the market, he was forced to sell them at a loss of 20%. Find the selling price of an electronic device.

Solution:
Given that A shopkeeper buys an electronic device at $4800 each. Due to price falls in the market, he was forced to sell them at a loss of 20%.
The cost price = $4800
Loss Percentage = 20%
We know that selling price = (100 – loss%) cost price/100
Substitute the cost price and the loss% in the above formula.
Selling price = (100 – 20)4800/100
Selling price = 80 × 4800/100
The Selling price = $384000/100 = $3840

Therefore, the Selling price of an electronic device is $3840.

Question 3.
Ben bought a branded shoe for $2500 and sold it at a profit of 15%. Find the profit and the selling price of the branded shoe.

Solution:
Given that Ben bought a branded shoe for $2500 and sold it at a profit of 15%.
The cost price of the music system = $2500
Profit Percentage = 15%
We know that selling price = (100 + profit%)cost price/100
Substitute the cost price and the profit% in the above formula.
Selling price = (100 + 15)2500/100
Selling price = 115 × 2500/100
The Selling price = $2875.
Profit = profit% of cost price
Substitute profit percentage and the cost price to calculate profit.
Profit = 15% × $2500 = 375.
We can also calculate the selling price using profit and cost price. That is
selling price = cost price + profit = $2500 + $375 = $2875.

Therefore, the Selling price of the branded shoe is $2875 and the Profit is $375.

Question 4.
Sam purchases a wallet for $900 and sold it at a 10% loss. Find the loss and selling rice of the wallet.

Solution:
Given that Sam purchased a wallet for $900 and sold it at a 10% loss. Find the loss and selling rice of the wallet.
The cost price = $900
Loss Percentage = 10%
We know that selling price = (100 – loss%) cost price/100
Substitute the cost price and the loss% in the above formula.
Selling price = (100 – 10)900/100
Selling price = 90 × 900/100
The Selling price = $81000/100 = $810
loss = loss% of cost price
Substitute loss percentage and the cost price to calculate loss.
Loss = 10% × $900 = $90.
We can also calculate the selling price using loss and cost price. That is
selling price = cost price – loss = $900 – $90 = $810.

Therefore, the Selling price of the wallet is $810 and the loss is $90.

Question 5. A shopkeeper bought a chair for $360. For how much should he sell the chair to gain 20%?

Solution: Given that A shopkeeper bought a chair for $360.
The cost price of the music system = $360
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)360/100
Selling price = 120 × 360/100
The Selling price = $432

Therefore, the Selling price of the chair is $432.

Question 6. By selling a digital watch for $1260, Joseph loses 5%. At what price must he sell it to gain 10%.

Solution: Given that By selling a digital watch for $1260, Joseph loses 5%.
Given that the selling price = $1260
Loss % = 5%
We know, cost price = selling price × 100/100 – loss%
Substitute the selling price and the loss% in the above formula.
Therefore, cost price = 1260 × 100/(100 – 5)
= 1260 × 100/95
= $1326.315
Now cost price = $1326.315
Gain% = 10%
Therefore, selling price = (100 + gain%)cost price/100
= (100 + 10)1326.315/100
= 110 × 13.26
= $1458.94

At $1459 price he can sell it to gain 10%.

FAQs on How to find SP when CP, Profit or Loss are Given

1. What is the selling price?

The selling price is the price that is assigned to a product sold it.

2. Tell me two ways to find the selling price?

Below are the two ways to find the selling price.
SP (selling price) when profit and cost price are given:
SP = {(100 + P%)/100} x CP
SP (selling price) when loss and cost price are given:
SP = {(100 – L%)/100} x CP

3. Does the selling price should be less or more than the cost price to calculate profit?

The selling price should be more than the cost price to calculate profit.

4. Does the selling price should be less or more than the cost price to calculate the loss.

The selling price should be less than the cost price to calculate the loss.

Conclusion

The complete article will help to find the process of finding the selling price when cost price, profit, or loss are given. Understand the concept completely and gain knowledge easily. Be the first to read the article and grab the tricks to solve problems.