Calculate Selling Price using Cost and Loss Percent

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

From Calculate Selling Price using Cost and Loss Percent to HOME PAGE