Loss and Loss Percent is raised when the cost price is higher than the selling price. We can calculate the Cost Price when Sell Price and Loss Percent are given. Improve your preparation by referring to the complete article. Check out how to find the Cost Price and different solved examples on finding the Cost Price using Sell Price and Loss Percent from the below article. Also, find out the different formulas to use to find the cost price.<\/p>\n
Also, See:<\/p>\n
To find out the Cost Price using Sell Price and Loss Percent, use the below formula.
\nCost price = selling price + loss
\nCost price = selling price + loss% \u00d7 cost price\/100
\nThe Cost price – loss% \u00d7 cost price\/100 = selling price
\nCost price(1 – loss%)\/100 = selling price
\nCost price(100 – loss%)\/100 = selling price
\nAlso, Cost price = selling price \u00d7 100\/100 – loss% (on cross multiplication)<\/p>\n
1. By selling a bicycle for $145, a shopkeeper loses 10%. How much percent would he gain or lose by selling it for $175?<\/p>\n
Solution:
\nGiven that by selling a bicycle for $145, a shopkeeper loses 10%.
\nThe selling price = $145
\nLoss Percentage = 10%
\nWe know that cost price = selling price \u00d7 100\/100 – loss%
\nSubstitute the selling price and the loss% in the above formula.
\nCost price = $145 \u00d7 100\/100-10
\nCost price = $145 \u00d7 100\/90
\nThe Cost price = $14500\/90
\nCost price = $161.11
\nTherefore, cost price of the bicycle = $161.11
\nNow, if the selling price = $175, then gain = $175 – $161.11\u00a0 = $13.89
\nTherefore, gain% = gain\/cost price \u00d7 100
\n= 13.89\/161.11 \u00d7 100
\n= 1500\/150
\n= 8.62%<\/p>\n
Therefore, he would have gained 8.62%.<\/p>\n
2. If the selling price of a pen is $9 and the loss percent is 2%, then what is the cost price?<\/p>\n
Solution:
\nGiven that the selling price of a pen is $9 and the loss percent is 2%.
\nThe selling price of a pen = $9
\nThe loss percent is 2%.
\nCost price = selling price \u00d7 100\/100 – loss%
\nSubstitute the selling price and the loss% in the above formula.
\nCost price = $9 \u00d7 100\/100 – 2
\nCost price = $9 \u00d7 100\/98
\nThe Cost price = $900\/98 = $9.18<\/p>\n
Therefore, the cost price of the pen is $9.18.<\/p>\n
3. Find out the cost price of the vehicle if the selling price is $3350 and the Loss is $154.<\/p>\n
Solution:
\nGiven that the selling price is $3350 and the Loss is $154.
\nThe selling price of a pen = $3350
\nThe loss = $154
\nLoss = Cost Price \u2013 Selling Price
\nCost Price = Loss + Selling Price
\nSubstitute the selling price and the loss in the above formula.
\nCost Price = $154 + $3350
\nCost Price = $3504<\/p>\n
Therefore, the cost price of the vehicle is $3504.<\/p>\n
1. What Does Cost Price Mean?<\/strong><\/p>\n The cost price is the original price of an item. The cost is the total amount need to produce a product or carry out a service.<\/p>\n 2. What is the Formula for the Cost Price?<\/strong><\/p>\n The formula for Cost Price when the SP and L% are given 3. What are the types of Cost Prices?<\/strong><\/p>\n Cost Price (CP) is the amount paid to buy the product is known as Cost Price. It is denoted by CP. Also, the cost price classified into two different categories. They are 4. How to Calculate Cost Price?<\/strong><\/p>\n Follow the below steps and find out the process to calculate cost price when the selling price and loss% are given. Loss and Loss Percent is raised when the cost price is higher than the selling price. We can calculate the Cost Price when Sell Price and Loss Percent are given. Improve your preparation by referring to the complete article. Check out how to find the Cost Price and different solved examples on finding the Cost … Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":81267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[5],"tags":[],"jetpack_featured_media_url":"https:\/\/bigideasmathanswers.com\/wp-content\/uploads\/2021\/03\/Calculate-Cost-Price-using-Sell-Price-and-Loss-Percent.png","_links":{"self":[{"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/posts\/81260"}],"collection":[{"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/comments?post=81260"}],"version-history":[{"count":2,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/posts\/81260\/revisions"}],"predecessor-version":[{"id":92921,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/posts\/81260\/revisions\/92921"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/media\/81267"}],"wp:attachment":[{"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/media?parent=81260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/categories?post=81260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/tags?post=81260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nCP = {100\/(100 \u2013 L%)} x SP where SP is the Selling Price and L is the Loss.<\/p>\n
\nFixed Cost: The fixed cost is constant and it doesn\u2019t vary under any circumstances.
\nVariable Cost: It could change depending on the number of units.<\/p>\n
\n1. Note down the selling price and loss%.
\n2. Write the formula of cost price i.e, CP = {100\/(100 \u2013 L%)} x SP
\n3. Substitute the SP and L% in the above formula.
\n4. Calculate and find the Cost Price of the product.<\/p>\n","protected":false},"excerpt":{"rendered":"