Finding CP when SP and Profit or Loss Percent are given
Finding CP when SP and Profit or Loss Percent are given
Examples on finding cp when sp and profit or loss percent are given :
1) A man sells his scooter for $18000 making a profit of 20%. How much did the scooter cost him?
Solution:
Let c.p = $100
As there is profit % as 20 so s.p = 100 + 20 = $120
Let the c.p of the scooter be $x
Now make proportions as
100/x = 120/18000
Cross multiply
120x = 100 . 18000
120x = 1,800,000
So, x = 1,800,000/120
x = $15000
Hence the cost price of the scooter is $15000.
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2) By selling an AC for $ 20,000, I lose 20%. What did I pay for it?
Solution:
We have S.P. = $ 20,000 and loss = 20%.
Let c.p = $100
As there is loss % as 20 so s.p = 100 - 20 = $80
Let the c.p of the scooter be $x
Now make proportions as
100/x = 80/20,000
Cross multiply
80x = 100 . 20,000
80x = 2,000,000
So, x = 2,000,000/80
x = $ 25000
Hence the cost price of the AC is $25,000.
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3) SP = $450 and profit % = 50, find CP.
Solution :
Let c.p = $100
As there is profit % as 50 so s.p = 100 + 50 = $150
Let the c.p of the scooter be $x
Now make proportions as
100/x = 150/450
Cross multiply
150x = 100 . 450
150x = 45,000
So, x = 45,000/150
x = $300
Hence, CP = $300
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4) A shopkeeper sells one transistor for $ 840 at a gain of 20% and another for $ 960 at a loss of 4%. His total gain or loss percent is:
1st Transistor
Let c.p = $100
As there is profit % as 20 so s.p = 100 + 20 = $120
Let the c.p of the scooter be $x
Now make proportions as
100/x = 120/840
Cross multiply
120x = 100 . 840
120x = 84,000
So, x = 84,000/120
x = $700
Hence, CP = $700
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2nd Transistor
Let c.p = $100
As there is loss % as 4 so s.p = 100 - 4
= $96
Let the c.p of the scooter be $x
Now make proportions as
100/x = 96/960
Cross multiply
96x = 100 . 960
96x = 96,000
So, x = 96,000/96
x = $1000
Hence, CP = $1000
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∴ Total CP = 700 + 1000 =$1700
Total SP = 840 + 960 = $1800
Profit = SP - CP
Profit = 1800 -1700 = $100
Profit % = (Profit/CP )x100
Profit % = (100/1700)x100
Profit % = 5.88%
Profit and Loss
• Finding profit or loss percent
• Finding cp when sp and Profit or Loss percent are given
• Finding sp when cp and Profit or Loss percent are given
• Solved examples on Profit and Loss
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