**Find Profit Percent When Cost Price and Selling Price is Given :**

In this section, we will see how to find profit or loss percent when cost price and selling prices are given.

**Meaning of cost price :**

The price at which an article is purchased, is called its cost price.

**Meaning of selling price :**

The price at which an article is sold, is called the selling price.

**What is profit ?**

If the selling price is greater than cost price, the seller is said to have a profit.

**What is loss ?**

If the cost price is greater than selling price, the seller is said to have a loss.

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%

After having gone through the stuff given above, we hope that the students would have learned how to calculate profit or loss percent.

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