Every day we note a variety of situations where we need to calculate or compare things. in “percent”. Mostly the situations related to selling or buying of items. We use Selling price to sell the article on a particular cost and that can be calculated using the selling price formula.
The amount that a customer pays to buy a product is called a selling Price.
Formula for Selling Price
It can be calculated as follows:
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SP = {(100 + Gain %)/100} x CP |
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SP = {(100 – Loss %)/100} x CP |
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SP = CP + Profit |
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SP = CP – loss |
- C.P – Cost Price
- S.P – Selling Price
- If S.P> C.P = Gain
- If S.P < C.P =Loss
Note: The Profit and loss percentage is another important fact to be known for calculating the S.P
Example Problem Using the Formula of Selling Price
Problem: A seller sells a washing machine at a cost price of Rs 15000 with a profit of 20%. Calculate the price at which the customer will purchase it. And also, find profit earned by the shopkeeper.
Solution:
C.P = Rs 15000
Profit % = 20%
Profit = C.P x profit %
Profit = 15000 X 20/100
Profit = Rs 3,000
Selling price = Profit + C.P
= Rs 3000 + Rs 15,000 = Rs 18,000
So, the amount payable by the customer to the seller = Rs 18,000
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A shopkeeper sells a refrigerators for rs 22,000 and makes a profit of 10%. If he desires to make a profit of 18% what should be his selling price.
Would you please help me to solve this problem