FINDING COST PRICE WORKSHEET

Finding cost price worksheet :

Here we are going to see some practice questions on finding cost price.

Finding cost price worksheet - Practice questions

(1)  A men sells two wrist watches at $ 594 each. On one he gains 10% and on the other he loses 10%. Find his gain or loss percent on the whole.

(2)  By selling a table for $1,320, a trader gains 10%. Find the cost price of the table.

(3)  A man sold two vehicles of his dog for $3605 each. On one he made a gain of 15% and on the other a loss of 9%. Find his overall gain or loss. 

Finding cost price worksheet - Solution

Question 1 :

A men sells two wrist watches at $ 594 each. On one he gains 10% and on the other he loses 10%. Find his gain or loss percent on the whole.

Solution :

Selling price of the first wrist watch = $ 594 and

gain% = 10%

Cost price of the first wrist watch

  =  [ 100/(100 + profit %) ] ⋅ Selling price

  =  [ 100 / (100 + 10) ] ⋅ 594

  =  (100 / 110) ⋅ 594

  =  $540

Similarly, C.P. of the second watch on which he loses 10% is

  =  [ 100/(100 - loss %) ] ⋅ Selling price

  =  [ 100 / (100 - 10) ] ⋅ 594

  =  (100 / 90) ⋅ 594

  =  $660

To say whether there was an overall Profit or Loss, we need to find the combined cost price and selling price.

Total cost price of the two watches = 540 + 660 = 1200.

Total selling price of the two watches = 594 + 594 = 1188.

Net Loss = 1200 – 1188 = 12

Loss %  =  ( Loss / Cost price ) ⋅ 100

  =  (12/1200) ⋅ 100

=  1 %

Question 2 :

By selling a table for $1,320, a trader gains 10%. Find the cost price of the table.

Solution :

Selling price  =  $ 1320

Profit %  =  10%

Cost price   =  [ 100/(100 + profit %) ] ⋅ Selling price

  =  [ 100/(100 + 10) ] ⋅ 1320

=  (100/110) ⋅ 1320

=  %1200

Question 3 :

A man sold two vehicles of his dog for $3605 each. On one he made a gain of 15% and on the other a loss of 9%. Find his overall gain or loss. 

Solution :

Selling price of the first vehicle = $3605  and

gain% = 15%

Cost price of the first vehicle

  =  [ 100/(100 + profit %) ] ⋅ Selling price

  =  [ 100 / (100 + 15) ] ⋅ 3605

  =  (100 / 115) ⋅ 3605

  =  $3134

Similarly, C.P. of the second watch on which he loses 9% is

  =  [ 100/(100 - loss %) ] ⋅ Selling price

  =  [ 100 / (100 - 9) ] ⋅ 3605

  =  (100 / 91) ⋅ 3605

  =  $3961

To say whether there was an overall Profit or Loss, we need to find the combined cost price and selling price.

Total cost price of the two watches

= 3134 + 3961

= 7095

Total selling price of the two watches

= 3605 + 3605

= 7210

Selling price > Cost price

Profit = 7210 - 7095 = 115

After having gone through the stuff given above, we hope that the students would have understood "Finding cost price worksheet".

Apart from the stuff given in this section, if you need any other stuff in math, please use our google custom search here.

Kindly mail your feedback to v4formath@gmail.com

We always appreciate your feedback.