Finding sp when cp and Profit or Loss Percent are given
On finding sp when cp and profit or loss percent are givenIn this method you can use proportion or formula.
If Profit % is given then selling price will be
| CP (100 + P%) SP = ------------------ 100 |
To find SP when loss % and CP are given
| CP (100 - L%) SP = ------------------ 100 |
Illustration 1 : Cost price = $450, Profit % = 5% find SP.
Solution :
As profit percent is given, we use the following formula.
| CP (100 + P%) SP = ------------------ 100 450 (100 + 5) SP = ------------------ 100 450 x 105 SP = ------------- 100 47250 SP = ----------- 100 |
∴ Selling price = $472.50
________________________________________________________________________
Illustration 2 : A bookseller sold 500 copies of a book at a profit of 20%. If a book costs him $15, find the selling price of the books.
Solution:
We have, Cost of one copy = $15
∴ Cost of 500 copies = $(500 x 15) = $ 7500
It is given that the bookseller sold 500 copies at a profit of 20%
∴ Profit = 20% of C.P. = 2o/100 x 7500 = $1500
Now, S.P. = C.P. + Profit = 7500 + 1500 = $ 9000
__________________________________________________________________________
Illustration 3 Bobby bought oranges at $5 a dozen. He had to sell them at a loss of 5%. Find the selling price of one orange.
Solution:
We have, C.P. of one dozen oranges = $ 5
Loss % = 5%
∴ Loss = 5% of $ 5 = 5/100 x 5= $ ¼
∴ S.P. = C.P. – Loss = 5 – ¼ = $ 19/4
Thus, S.P. of one dozen oranges = $ 19/4
∴ S.P. of one orange = $ 19/4 x 1/12 = $ 0.395 or $40
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