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We will learn how to solve different types of problems on calculating selling price.
Formulas to calculate selling price:
(i) If Cost Price of an article and gain on its selling are given, the Selling Price of the article will be sum of its Cost Price and gain.
Selling Price = Cost Price + Gain
(ii) If Cost Price of an article and loss on its selling are given, the Selling Price of the article will be Cost Price minus loss.
Selling Price = Cost Price – Loss
For calculating selling price, we add profit to the cost price or subtract loss from the cost price.
S.P. = C.P. + Profit
or, S.P. = C.P. – Loss
Solved Examples on Calculating Selling Price:
1. Lila purchased a chair for $ 257. She spent $ 50 on transportation. She sold it at a profit of $ 120. Find the selling price of the chair.
Cost Price of a chair = $ 257
Transportation = $ 50
Total Cost Price = $ 257 + $ 50
=
$ 307
Profit =
$ 120
Selling Price =
Cost Price + Profit
=
$ 307 + $ 120
=
$ 427
Selling Price of the chair = $ 427.
2. A moped is bought at $ 15000. At what should it be sold
to make a profit of $ 2180?
Cost Price of a moped =
$ 15000
Profit made =
$ 2180
We know Selling Price = Cost Price + Profit
= $ 15000 + $ 2180
= $ 17180
The moped should be sold at $ 17180.
3. Nairitee bought jewellery item for $ 160. She sold it at a loss of $ 25. Find the selling price of the jewellery item.
Solution:
C.P. of the jewellery item = $ 160
Loss = $ 25
S.P. = C.P. – Loss
= $ 160 – $ 25
= $ 135
For more details please visit Calculate Selling Price using Cost and Profit Percent and Calculate Cost Price using Sell Price and Profit Percent.
Worksheet on Calculating Selling Price
1. Find the selling price in each case.
(i) C .P. = $ 90; Profit = $ 80
(ii) C .P. = $ 550; Loss = $ 50
(iii) C .P. = $ 965; Profit = $ 45
(iv) C .P. = $ 2325; Loss = $ 125
(v) C .P. = $ 2438; Loss = $ 340
(vi) C .P. = $ 3000; Profit = $ 421
(vii) C .P. = $ 7843; Profit = $ 299
(viii) C .P. = $ 4093; Loss = $ 97
Answer:
1. (i) Selling price = $170
(ii) Selling price = $500
(iii) Selling price = $1010
(iv) Selling price = $2200
(v) Selling price = $2098
(vi) Selling price = $3421
(vii) Selling price = $8142
(viii) Selling price = $3996
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