Question

Write formula of finding selling and cost price when profit or loss percent is given.

Answer 1

To find the selling price when the profit percentage is given, use the formula Selling Price = Cost Price + (Profit Percentage x Cost Price). To find the cost price when the profit or loss percentage is given, use the formula Cost Price = Selling Price / (1 + (Profit/Loss Percentage / 100)).

Step-by-step explanation:

Selling Price Formula:

The formula to calculate the selling price when the profit percentage is given is:

Selling Price = Cost Price + (Profit Percentage x Cost Price)

For example, if the cost price is $100 and the profit percentage is 20%, the selling price would be:

Selling Price = 100 + (0.20 x 100) = $120

Cost Price Formula:

The formula to calculate the cost price when the profit or loss percentage is given is:

Cost Price = Selling Price / (1 + (Profit/Loss Percentage / 100))

For example, if the selling price is $120 and the profit percentage is 20%, the cost price would be:

Cost Price = 120 / (1 + (20 / 100)) = $100