SIMPLE TRICK to solve cost price and selling price problem (Percentage)
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- เผยแพร่เมื่อ 5 ก.ย. 2024
- Introduction to cost price and selling price problem. Arithmetric/Percentage
- Very simple trick for this kind of problem. The trick is to treat cost price as 100% every time. Because selling price can be greater or less than the cost price.
IF:
Selling Price is greater than Cost Price, a profit is made
Cost Price is greater than Selling Price, a loss has occurred
ALSO.
Marked Price is regarded as 100% as well.
Once you get it, you can solve ANY problem related to cost and selling price problem.
:))
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Bob
0:06 you had one job
bruuuuh
Wow!Thank a lot for the simple and easy way on how to earn a profit.👏👏
Very good
Who did the captions? I just wanna talk 👏👏🤣
Meh...
Thank you so much, this video is very helpful for me ☺️
Are you malaysian or singaporean? :) great videos!!!
try make us still more easier
Am trying to open a convenience store and I am trying to figure out how to mark up the purchased goods. Is this formula used?
i supposed you can do this as well. You probably would need to figure out how much you wanna mark up based on the percentage with the cost price as the base reference (100%).
This is actually incorrect. Yes the trick is to take cost price as 100% but this means that the selling price is the full cost price (100%) + a profit of 25%.
So S.P($100) = 125% of C.P
From this, we can write
125% of C.P = $100
=>1% of C.P = $100/125
=>100% of C.P =($100/125) x 100
=$80
Hence the Cost price is $80.
We can also verify the solution as follows:
If cost price =80, then after adding a 25% profit on this cost price, we should obtain a selling price of $100 if our solution is correct.
Now 25% of $80
=(25/100) x 80
=$20
And so, S.P = C.P + profit
= $80 + $20
=$100
Hence we have verified that the cost price is $80.
shycrewjesusfreak i understand what you mean, maybe i did not explain it clear enough in the video.
The baseline comparison of 100% of cost price refers to the last part when you need to find profit on cost.
Please see pinned post for more clarification. 🙂
The selling price is fixed to earn a profit of 25% on cost
Thankyou!
no problem mate!
Well done bro..
Arun Edathodi thanks! Hope the video helps!
eXcelMathS! Hi.. would you help me to clear the concept of problems like
" The SP of 5 article is the same as the CP of 3 articles,then the gain or loss% ""
Please explain me this concept.. thanks
you could assume that the selling price of 5 articles is $150, which is the same as the cost price of 3 articles. then calculate the selling price and cost price of each individual articles. Depending on the question, lastly find the gain or loss % (you need to know which base to take as 100% base on the question)
eXcelMathS! Good explanation.. thanks bro 😃
Thanks for the video!
Where did the 75 come from
Anyway your voice is like jianhaotian
fortunately or unfortunately i am not him! xD
I want you to know some other trick except this as this trick is mentioned or is being explained in all the videos related to profit and loss
I need simple trick of cost price
Hi, if the question says the selling price is an increase of 8% on the cost price, is it the same as 8% profit?
Here’s the question,
The selling price of $2.97 per meter is an increase of 8% on the cost price. Calculate the cost price.
what is a 80% sell mean plz reply
if a merchant set a radio price more than his buying price by 40% and finally he reduce the radio price by 10% on total selling value,so he get rs.65 as profit,so what is the actual price of radio he bought?
Thanks 😊
No problem mate!
@@eXcelMathS how do you calculate increase price of item
Formula If profit is x/y on SP
Then it will be x/y-x on CP
If profit is x/y on CP
Then it will be x/x+y on SP
Here 25%=1/4,x/y=1/4
i dont understand, shall i memories the formulla @surat
when sell price is given of percentage
You are always saying that the cost price is always 100%, but base on your solution why the cost price is equals to 75%? can you please explain?
what i am trying to illustrate is that you have to take cost price as a baseline comparison, when computing the absolute amount and % profit on cost price. A great way to solve this problem will be to use an absolute value (let's say you spend $100 on the selling price), calculate the cost price amount by taking the cost price as 100% (cause it is the baseline comparison). Then, solve the question.
Margin/Profit based on cost, here cost will be 100%
Margin/Profit based on selling price, here the selling price will be 100%
So it is ver simple,
Cost price + Profit = Selling price
? + 25% = 100%
No need to do comparison, is very easy. Be careful, based on cost and based on selling price is a different thing.
what did you mean profit on cost price
It just means that the profit is reference to the cost price, and not the selling price
thank you sir
1 by 3 how did you do that sir
hey you it's me it’s like 25= 1 75/25=3
I think you did wrong. Selling price =cost +margin. If the selling price is $100, the cost should be $80.
Because you said it based on the cost 100%. But it based on the selling price, you are right.
The based on “cost” is meant to refer to the last part of the question when you want to find profit on cost.
I did some further explanation on my edited pinned post. Maybe it clarifies things better?
Thanks for pointing it out! 🙂
Sir please remove this blue line which is representing your words it is creating distractions....
that how spell trick not tricic
heheheh
wrong approach
Next time can you do it on a board
i try mann.. thanks!