HOW TO FIND SELLING PRICE
How to find selling price ?
Here we are going to see how to find selling price.
Selling price when there is a profit
Selling price when there is a loss
Example 1 :
A men buys a color T.V set for $15200 and sells it at a loss of 20%. What is the selling price of the T.V set?
Solution :
Loss is 20% of the cost price
Selling price of color TV = 15200
Selling price = [(100 - loss %) / 100] ⋅ Cost price
= [ (100 - 20) / 100 ] ⋅ 15200
= (80/100) ⋅ 15200
= 12160
Hence selling price of TV is 12160.
Example 2 :
Find the S.P. if a profit of 5% is made on
(i) a bicycle of $ 700 with $ 50 as overhead charges.
(ii) a computer table bought at $1150 with $50 as transportation charges.
(iii) a vehicle bought for $2560 and an expense of $140 on repair charges.
Solution :
Cost of bicycle = $700
Overhead charges = $50
Total cost price of bicycle = 700 + 50 = 750
Profit = 5%
Selling price = [(100 + profit %) / 100] ⋅ Cost price
= [ (100 + 5) / 100 ] ⋅ 750
= (105/100) ⋅ 750
= 787
Hence selling price of bicycle is 787.
(ii) Cost of computer table = $1150
Overhead charges = $ 50
Cost price of table = 1150 + 50
= 1200
Selling price = [(100 + profit %) / 100] ⋅ Cost price
= [ (100 + 5) / 100 ] ⋅ 1200
= (105/100) ⋅ 1200
= 1260
(iii) Cost of vehicle = $2560
Cost spent for repair = $140
Cost price of table = 2560 + 140
= 2700
Selling price = [(100 + profit %) / 100] ⋅ Cost price
= [ (100 + 5) / 100 ] ⋅ 2700
= (105/100) ⋅ 2700
= 2835
Example 3 :
David purchased a house for $1775000 and spent $125000 on its interior decoration. He sold the house to make a profit of 20%. Find the S.P. of the house.
Solution :
Purchasing price of house = $1775000
Cost spent for interior decoration = $125000
Cost price = 1775000 + 125000
= 1900000
Profit = 20%
Selling price = [(100 + profit %) / 100] ⋅ Cost price
= [(100 + 20) / 100] ⋅ 1900000
= [120 / 100] ⋅ 1900000
= $2280000
Hence the selling price of the house is $2280000.
After having gone through the stuff given above, we hope that the students would have understood "How to find selling price".
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