An article bought for rupees 150 was sold at 10 loss the selling price of the article was

How to calculate selling price using cost and loss percent?

We know, Selling Price = cost price - loss

              Selling Price = cost price - \(\frac{Loss Percentage × Cost Price}{100}\)

              Selling Price = \(\frac{100 × Cost Price - Loss Percentage × Cost Price}{100}\)

              Selling Price = Cost Price (\(\frac{100 - Loss Percentage}{100}\)), [Here, cost price and loss% are known.]

Solved examples will help us to find selling price when the cost price and loss% are known:

1. Shelly bought a dress for $150 and sold it to Jenny there by suffering a loss of 10%. Find the selling price of the dress.

Solution:            

Given cost price = $150

Loss % = 10%                                                      

We know, selling price =  Cost Price (\(\frac{100 - Loss Percentage}{100}\))

                              =  150 (\(\frac{100 - 10}{100}\))     

                              =  150 (\(\frac{90}{100}\))      

                              =  (\(\frac{150 × 90}{100}\))                  

                              = 9 × 15

                              = $135        

Therefore, selling price of the dress is $135.       

2. Mike bought a laptop for $800 and sold it to Jack there by suffering a loss of 12%. Find the selling price of the laptop.

Solution:            

Given cost price = $800                 

Loss % = 12%                                                      

We know, selling price = Cost Price (\(\frac{100 - Loss Percentage}{100}\))

                              = 800 (\(\frac{100 - 12}{100}\))              

                              = \(\frac{800 × 88}{100}\)                       

                              = 88 × 8

                              = $724        

Therefore, selling price of the laptop is $724.                     

3. By selling a chair for $372, Daisy loses 7%. At what price must she sell it to gain 10%.

Solution:            

Given selling price = $ 372                           

Loss % = 7%

We know, Cost Price = \(\frac{Selling Price × 100}{100 - Loss Percentage}\) 

Therefore, cost price = \(\frac{372 × 100}{100 - 7}\)          

                              = \(\frac{372 × 100}{93}\)   

                              = $400                                                  

Now cost price = $400                                                   

Gain% = 10%                                                                     

Therefore, selling price = Cost Price [\(\frac{100 + Gain Percentage}{100}\)]

                               = 400 [\(\frac{100 + 10}{100}\)]                    

                               = 110 × 4

                               = $440            

7th Grade Math Problems

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A man buys article for rs. 150 and makes overhead experses which are 10 % of the cost price. At what price must he sell it to gain 20 % ? a Rs. 182 b Rs. 192 c Rs. 198 d Rs. 208

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