How to calculate selling price using cost and profit percent? We know, Selling Price = Cost Price + Profit Selling Price = Cost Price + \(\frac{Profit Percentage}{100}\) × Cost Price Selling Price = \(\frac{100 × Cost Price + Profit Percentage × Cost Price}{100}\) Selling Price = Cost Price [\(\frac{100 + Profit Percentage}{100}\)]; [Here, cost price and profit% are known.] 1. Ryan bought a book for $100 and sold it at a profit of 10%. Find the selling price of the book. Solution: Given cost price of the book = $100 Profit% = 10% We know, Selling Price = Cost Price [\(\frac{100 + Profit Percentage}{100}\)] = 100 (\(\frac{100 + 10}{100}\)) = 100 (\(\frac{110}{100}\)) = \(\frac{100 × 110}{100}\) = $110 Therefore, the selling price of the book is $110. 2. John bought a music system for $260. For how much should he sell the music system to gain 10%? Solution: Given cost price of the music system = $260 Gain% = 10% We know, Selling Price = Cost Price [\(\frac{100 + Gain Percentage}{100}\)] = 260 (\(\frac{100 + 10}{100}\)) = 260 (\(\frac{110}{100}\)) = \(\frac{260 × 110}{100}\) = $286 Therefore, he should sell the music system for $286. 3. Robert bought a machine for $1200 and sold it at a profit of 15%. Find the selling price of the machine. Solution: Given cost price of the machine = $1200 Profit% = 15% We know, Selling Price = Cost Price [\(\frac{100 + Profit Percentage}{100}\)] = 1200 (\(\frac{100 + 15}{100}\)) = 1200 (\(\frac{115}{100}\)) = \(\frac{1200 × 115}{100}\) = $1380 Therefore, the selling price of the machine is $1380. 7th Grade Math Problems From Calculate Selling Price using Cost and Profit Percent to HOME PAGE
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We will learn how to calculate loss and loss percent. If selling price is less than the cost price (S.P. < C.P.), there is a loss. Loss = cost price - selling price or, cost price = loss + selling price Selling price = cost price - loss Loss% → loss on $100 is called loss% Loss percent is always calculated on cost price So, loss% = \(\frac{loss}{cost price}\) × 100 Solved Examples on Calculate Loss and Loss Percent: 1. A dress was bought for $400 and sold $350. Find the loss and loss percent. Solution: Cost price = $400 Selling price = $350 Since, S. P. < C. P., there is loss Therefore, loss = cost price - selling price = $450 - $350 = $50 So, loss% = \(\frac{loss}{cost price}\) × 100 = \(\frac{50}{400}\) × 100 = \(\frac{25}{2}\) = 12.5% 2. If the cost price of 20 electric goods is equal to the selling price of 25 electric goods, find loss per cent. Solution: Let cost price of 1 electric good = $1 Then cost price of 20 electric goods = $20 Also, cost price of 25 electric goods = $25 Since, selling price of 25 electric goods = cost price of 20 electric goods Therefore, selling price of 25 electric goods = $20 Therefore, loss = cost price - selling price = $25 - $20 = $5 Therefore, loss% = \(\frac{loss}{cost price}\) × 100 = \(\frac{5}{25}\) × 100 = 20% 7th Grade Math Problems From Calculate Loss and Loss Percent to HOME PAGE
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