Solved Examples on Selling Price Formula
Q1: At what price should the shopkeeper sell the goods to make a profit of 15% if the cost price of the product is ₨ 250.
Solution:
Given,
- Cost price of good = ₨ 250
- Profit percentage = 15%
Profit percentage = (Profit/Cost price) × 100
⇒ 15 = (Profit/ 250) × 100
⇒ Profit = ₨ 37.5
Profit = Selling price – Cost price
⇒ 37.5 = SP – 250
⇒ Selling price = ₨ 287.5
Therefore, selling price of good = ₨ 287.5
Q2: A shopkeeper bought 200 pens at a cost of ₨ 1000. At what price should he sell each pen to gain a profit of ₨ 200.
Solution:
Given,
- Cost price of 200 pens = ₨ 1000
- Profit = ₨ 200
Profit = Selling price – Cost price
⇒ 200 = S.P – 1000
⇒ SP = 1200
⇒ Selling price of 200 pens = ₨ 1200
Now, selling price of one pen = 1200/200 = 6
Therefore, shopkeeper should sell one pen at ₨ 6 to gain a profit of ₨ 200.
Q3: Samar buys a cycle at ₨ 2400 and sells it at a loss of 25%. What is the selling price of the cycle?
Solution:
Given,
- Cost price of the fan (C.P) = ₨ 2400
- Loss percentage is 25%
Loss percentage = (Loss/Cost price) × 100
Hence, Loss = ₨ 600
Loss = Cost price – Selling Price
600 = 2400 – S.P
⇒ Selling price = ₨ 1800
Hence, selling price of the cycle is ₨ 1800/-
Q4: Anita bought 5 notebooks for ₨ 200. She sold them to her friend Sameera at a loss of ₨ 50. At what price did Sameera buy books from Anita.
Solution:
Given,
- Cost price of 5 note books = ₨ 200
- Loss = ₨ 50
Cost price at which Sameera bought books = the price at which Anita sold books.
Loss = Cost price – Selling price
⇒ 50 = 200 – S.P
⇒ Selling price = ₨ 150
Hence, price at which Sameera bought books = ₨ 150/-
Q5: Vijay sold two umbrellas at a cost of ₨ 280. He sold one umbrella at a profit of 12% and the other umbrella at a loss of 5%. If the cost price of both umbrellas is the same, then what is the selling price of each umbrella?
Solution:
Given,
- Selling of two umbrellas = ₨ 280
- 1st umbrella is sold at a profit of 12%
- 2nd umbrella is sold at loss of 5%
Let the Selling price (S.P) of 1st umbrella = x
Selling price of 2nd umbrella = 280 – x
Cost price (C.P) = {100/(100 + Profit%)} × Selling price
⇒ C.P of 1st umbrella = {100/(100 + 12)} × x = (100/112) x
Cost price (C.P) = {100/(100 – Loss%)} × Selling price
⇒ C.P of 2nd umbrella = {(100/(100 – 5)} × (280 – x) = {100 × (280 – x)/95}
According to given data,
C.P of 1st umbrella = C.P of 2nd umbrella
⇒ (100/112) x = {100 × (280 – x)/95}
⇒ 95x = 112 × (280 – x)
95x = 31360 – 112x
⇒ 112x + 95x + 31360 ⇒ 207x = 31360
⇒ x = 151.5
⇒ S.P of 1st box = ₨ 151.5
⇒ S.P of 2nd box = 280 – 151.5 = ₨ 128.5
Hence, selling price of 1st umbrella = ₨ 151.50/- and the selling price of 2nd umbrella = ₨ 128.50/-
Q6: The marked price of a fan is ₨ 1200. What is the selling price of the fan after a 10% discount.
Solution:
Given,
- Marked price of fan (M.P) = ₨ 1200
- Discount percentage = 10%
Discount percentage = (Discount/Marked price) × 100
⇒ 10 = (discount/1200) × 100
⇒ Discount = ₨ 120
Discount = Marked price – Selling Price
⇒ 120 = 1200 – S.P
⇒ S.P = ₨ 1080
Hence, selling price of the fan is ₨ 1080/-
Q7: A shopkeeper sold a bag at ₨ 300 and gained a profit of 15%. At what price should he sell the bag such that he faces a loss of 15%?
Solution:
Given,
- Selling price of bag = ₨ 300
- Profit percentage = 15%
Cost price (C.P) = {100/(100 + Profit%)} × Selling price
⇒ C.P = {100/(100 + 10)} × 300
⇒ C.P = ₨ 260.87
Loss percentage = 15%
Loss percentage = (Loss/Cost price) × 100
⇒ 15 = (Loss/260.87) × 100
⇒ Loss = ₨ 39.13
Loss = Cost price – Selling price
⇒ 39.13 = 260.87 – S.P
⇒ S.P = ₨ 221.84
Hence, to face a loss of 15% the shopkeeper must sell the bag at ₨ 221.84/-
Selling Price Formula
Selling Price Formula: Selling price is defined as the amount a customer pays for a product or service. Every day we purchase one thing or the other, and every product has a certain price. So, the price that we pay to the seller to buy the product is called the “selling price,” whereas the amount at which the product is bought by the seller is known as the “cost price.”
How to Calculate Selling Price: First, calculate the total cost of purchasing all units. Then, divide this total cost by the number of units bought to determine the cost price per unit. Next, utilize the selling price formula, which is SP = CP + Profit Margin, to determine the final price. Add the profit margin to the cost price to determine the appropriate selling price for the commodity.
This article provides in-depth on Selling Price Formula, and how to calculate the selling price from cost price and profit.
Table of Content
- What is Selling Price?
- Selling Price Formula
- Selling Price Formula with Profit Percentage
- Selling Price Formula with Loss Percentage
- Difference Between Selling Price and Cost Price
- Cost Price
- Marked Price (MP) and Discount
- Selling Price Formulas
- Solved Examples on Selling Price Formula
- Practice Problems on Selling Price Formula
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