To Find the Sale Price when Profit % and Cost Price are known (WP-3: Profit)

Hatim bought a bike for Rs. 135,000 and sold at 62% profit. Find the sale price of the bike.

Given:

Cost price (C.P) = Rs.135,000
Profit % = 62%

To Find:

Sale price (S.P) = ?

Solution:

1st Method 

 By using the Formula for Profit % involving Gain is

.....Eqn(1)

And Formula for Gain is

Gain = Sale price (S.P) - Cost price (C.P) ....Eqn(2)

From Eqn (1) and (2) we can derive a formula for Cost price (C.P) that is

Sale price (S.P) = (100 % + Profit %) x Cost price (C.P)

So by putting values we get

Sale price (S.P) = (100%+62%) x Rs.135,000

Sale price (S.P) = (100%+10%) x Rs.135,000

Sale price (S.P) = (110%) x Rs. 135,000

Sale price (S.P) = `{\frac{110\times Rs. 135000}{100}}`

Sale price (S.P) = Rs.218,700

2nd Method 

 By using the Formula for Profit % involving Profit is

Or

So by putting values we get

Sale price (S.P) = Rs. `{\frac{62\times Rs. 135000}{100}}`

Sale price (S.P) = Rs.83,700

Now We know that; 

Sale price (S.P) = cost price + profit 

Sale price (S.P) = Rs.135,000 + Rs.83,700 

Sale price (S.P) = Rs.218,700

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