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Finding Cost Price

Percentages and Its Application II - Concepts

Profit and Loss in Rupees

Profit and Loss Percent

Finding Selling Price

Finding Cost Price

Simple Interest

Percentage Change

Class - Sainik School Entrance 6th Subjects

Concept Explanation

Finding Cost Price

To Find Cost Price when Profit/Loss percent is given: The procedure to find the cost price when profit/loss % is given is as follows:

Step I: We will assume the Cost Price to be x.

Step II: Then we find the Profit/Loss on the cost price

Strep III: We will equate the equation with the given Selling Price.

Step IV: We will solve for x.

$Profit/ Loss = frac{Profit/Loss%}{100}times Cost ;Price$

Selling Price = Cost Price + Profit

Selling Price = Cost Price- Loss

Illustration 1: Mrs Rohana sold a dress for Rs 495 thus making a profit of 10%. Find the cost price of the dress and the profit ?

Solution: Let the Cost Price of the dress = x Rs.

Profit % = 10%

Profit = 10 % of x

$small =frac{10}{100}times x = frac{x}{10};Rs$

Selling Price = Cost Price + Profit

$small 495 = x + frac{x}{10}$

$small 495 = frac{10x+x}{10}$

4950 = 11x

$x=frac{4950}{11}$

x = Rs. 450

Hence, Cost price = Rs 450

Now, as we know that

Profit = Selling Price - Cost Price

Profit = 495 - 450

= Rs 45

Illustration 2: A man purchases two fans for Rs 2160. By selling one fan at a profit of 15 % and the other at a loss of 9 % he neither gains nor loses in the whole transaction. Find the cost price of each fan.

Solution: Let the C.P. of the first fant be Rs x. Then,

C.P. of the second fan = Rs(2160 - x)

As it is given that in the whole transaction, the man neither gains nor loses.

$therefore$ Gain on the sale of first fan = Loss in the sale of second fan

$Rightarrow 15;of; Rs x =9%;of;Rs(2160 -x)$

$Rightarrow frac{15}{100}times x=frac{9}{100}times (2160-x)$

$Rightarrow 15x=9(2160-x)$

Dividing both sides by 3

$Rightarrow 5x=3(2160-x)$

$Rightarrow 5x=6480-3x$

$Rightarrow 5x+3x=6480$

$Rightarrow 8x=6480$

$Rightarrow x=frac{6480}{8}$

$Rightarrow x=810$

So, C.P. of first fan = Rs 810

C.P. of second fan = Rs(2160 - x) = Rs (2160 - 810)

= Rs 1350

Sample Questions

(More Questions for each concept available in Login)

Question : 1

A second hand car was sold for Rs 190000, at a loss of Rs 85. Find the CP of the car.
A. Rs 190850	B. Rs 200085	C. Rs 190085	D. Rs 189915
Right Option : C
View Explanation

Question : 2

A man sold an almirah for Rs.495 and gained 10% on it . Find its cost price
A. 450	B. 455	C. 453	D. 452
Right Option : A
View Explanation

Question : 3

7000 bricks were purchased for Rs.5,740. The cost of transportation of these bricks to construction sight was Rs.805. What was the overall cost per thousand bricks?
A. Rs.935	B. Rs.6,540	C. Rs.81,250	D. Rs,654.50
Right Option : A
View Explanation