Find cost price and profit

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Presentation transcript:

Find cost price and profit

Cost Price(CP) + Profit(P) = Selling Price (S.P) Profit means, your Selling Price (S.P) is more than your Cost Price(C.P) This means, you sold something for more price than what you purchased it for. The extra price that you sold it for is called as Profit Cost Price(CP) + Profit(P) = Selling Price (S.P) We can say that the difference between Selling Price and Cost Price is Profit Profit(P) = Selling Price (SP) ̶ Cost Price(CP) Cost Price(CP) = Selling Price (SP) - Profit(P)

Cost Price(CP) ̶ Loss (L) = Selling Price (S.P) Loss means, your Cost Price (C.P) is more than your Selling Price(S.P) This means, you sold something for less price than what you purchased it for. The lesser price that you sold it for is called as Loss Cost Price(CP) ̶ Loss (L) = Selling Price (S.P) We can say that the difference between Cost Price and Selling Price is Loss Loss(L) = Cost Price(CP) - Selling Price (SP) Cost Price(CP) = Selling Price (SP) + Loss(L)

Example1: Vinod got a bike for Rs 35,000 and after few year spent Rs 3,500 on repair and sold it for Rs 24,000. Find his profit and loss value. Solution Given:- Bike Cost= Rs 35000, Repair cost = Rs 3,500 , Selling Price(SP)=Rs 24000 To Find :- profit and loss value Total Cost Price (CP) = Bike Cost + Repair Cost = 35000 + 3500 Cost Price (CP) = 38500 Selling Price(SP) = 24000 Since SP < CP there is Loss Loss(L) = Cost Price(CP) ̶ Selling Price(SP) = 38500 - 24000 = 14500 Ans: Loss(L) = Rs 14,500 Profit = SP ̶ CP Loss = CP ̶ SP

Example2: Vinod bought a cloth for Rs 340 and spent Rs 150 to tailor for making shirt. Then sold the Shirt for Rs 750 . Find his profit and loss value. Solution Given:- Cloth cost = Rs 340, Tailoring cost = Rs 150 , Selling Price(SP) = Rs 750 To Find :- profit and loss value Total Cost Price (CP) = Cloth cost + Tailoring cost = 340 + 150 Total Cost Price (CP) = 490 Since SP > CP there is Profit Profit(P) = Selling Price(SP) ̶ Cost Price(CP) = 750 - 490 = 260 Ans: Profit(P) = Rs 260 Profit = SP ̶ CP Loss = CP ̶ SP

Try these Vinod sold his gold ring for Rs 14,500 at a profit of Rs 3500. Find the cost price of the gold ring 2. Priya bought a smartphone for 24500 at a loss of Rs 7000. Find the selling price of the phone.