Finding sp when cp and Profit or Loss Percent are given
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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
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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
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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
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