Finding Selling Price

To Find Selling Price when Profit/Loss percent is given: To find the selling price we will first find the Profit/Loss on the cost price, and will then find the Selling Price.

Selling Price = Cost Price + Profit

Selling Price = Cost Price- Loss

Illustration 1: Mr. Kumar Bought a car at Rs 5500 and sold it at a profit of 10% find the Selling Price of the car?

Solution:  Cost Price of the car = Rs. 5500

      Profit % = 10%

       Profit = 10 % of 5500

Selling Price of the Car = 5500 + 550 = Rs. 6050

Illustration 2: A man buys a plot of agricultural land for Rs 300000. He sells one-third at a loss of 20%. and two-fifths at a gain of 25%. At what price must he sell the remaining land so as to make an overall profit of 10%.

Solution: We have,

C.P of the entire land = Rs 300000

Proposed overall profit = 10% of Rs 300000

So, Proposed S.P. = Rs (300000 + 30000) = Rs 330000

Now, C.P. of one-third land 

Loss = 20% of Rs 110000

So, S.P. = C.P. - Loss

              = Rs (110000 - 22000)

               = Rs 88000

C.P. of two-fifths land

Gain = 25%  of Rs 132000

So, S.P. = C.P. + Gain

            = Rs (132000+33000)

            = Rs 165000

Total S.P. of two parts of the land sold = Rs (88000 + 165000)

                                                       = Rs 253000

So, S.P. of the remaining land = Rs(300000 - 253000)

                                            = Rs 47000