FIND PROFIT PERCENT WHEN COST PRICE AND SELLING PRICE IS GIVEN

Formulas Used to Find Profit and Loss Percent

Profit (or) gain  -  Selling price - Cost price

Loss  =  Cost price - Selling price

Profit %  =  (Profit / Cost price) ⋅ 100

Loss %  =  (Loss / Cost price) ⋅ 100

Example 1 :

A shop keeper sold an article for $2090.42. Approximately, what will be the percentage of profit if he sold an article for $2602.58 ?

Solution :

A shop keeper sold an article for $2090.42

From this, we should find the profit percent if it has been sold for $2602.58. So, we should consider the given (2090.42) as cost price.

Now,

Cost price  =  2090.42

Selling price  =  2602.58

Profit  =  Selling price - Cost price

Profit  =  2602.58 - 2090.42

Profit  =  512.16

Profit %  =  (Profit / Cost price) ⋅ 100

  =  (512.16/2090.42) ⋅ 100

  =  24.5% (approximately) 25%

Hence the required profit percent is 25%.

Example 2 :

Alfred buys a car for $4700 and spends $800 on its repairs. If he sells the car for $5800, his gain percent is :

Solution :

Cost price of car  =  $4700

Amount spent for its repair  =  $800

Total cost price  =  4700 + 800

  =  5500

Selling price of car  =  $5800

Selling price > Cost price

Profit  =  Selling price - Cost price

  =  5800 - 5500

  =  300

Profit %  =  (Profit / Cost price) ⋅ 100

  =  (300/5500) ⋅ 100

   =  5.45%

Example 3 :

Sam purchased 20 dozens of toys at the rate of $375 per dozen. He sold each one of them at the rate of $33. What was his percentage profit.

Solution :

Cost of 1 dozen of toy  =  $375

Cost of 20 dozen of toys  =  20 (375)

Cost of 20 dozen of toys  =  7500

1 dozen contains 12 item. So, 20 dozen will contain 

=  20 x 12

=  240 toys

Selling price of 1 toy  =  $33

Selling price of 240 toys  =  240 (33)

=  7920

Selling price > Cost price 

Profit %  =  [(7920 - 7500)/7500] ⋅ 100

=  (420/7500) ⋅ 100

=  5.65%

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