Exercises in Retail Math 5: Calculation of CP when SP and Margin is given and Vice Versa

 Calculation of CP when SP and Margin% is given.

Remember: CP to SP, divide by 1-Margin%

You buy an item at 200 Rs with a margin of 40%, what should be the SP.

CP = \(\large{\frac{SP}{\text{(1-Margin%)}}}\)

CP = \(\large{\frac{200}{(1-0.4)}}\)

= \(\large{\frac{200}{0.6}}\)

= \(\large{\frac{2000}{6}}\)

= \(\large{\frac{1000}{3}}\)

= 333.33 Rs. 

 Calculation of CP when SP and Margin% is given.

Remember: SP to CP, Multiply by 1-Margin%

You want to sell an item at 200 Rs with a margin of 40%, what should be the CP.

CP= \({SP\times \text{(1-Margin%)}}\)

CP= \({200\times \text{(1-40%)}}\)

= \({200\times \text{60%}}\)

= 120 Rs. 

Exercise 1

You buy an item at 500 Rs with a margin of 25%. What should be the selling price (SP)?

Exercise 2

You want to sell an item at 800 Rs with a margin of 30%. What is the cost price (CP)?

Exercise 3

You buy an item at 1200 Rs with a margin of 20%. Find the selling price (SP).

Exercise 4

You want to sell an item at 150 Rs with a margin of 10%. Calculate the cost price (CP).

Exercise 5

You buy an item at 7000 Rs with a margin of 15%. Determine the selling price (SP).

Exercise 6

You want to sell an item at 450 Rs with a margin of 50%. What should be the cost price (CP)?

Exercise 7

You buy an item at 250 Rs with a margin of 35%. Find the selling price (SP).

Exercise 8

You want to sell an item at 1800 Rs with a margin of 25%. Calculate the cost price (CP).

Exercise 9

You buy an item at 3000 Rs with a margin of 12%. Determine the selling price (SP).

Exercise 10

You want to sell an item at 120 Rs with a margin of 20%. What should be the cost price (CP)?

Exercises in Retail Maths 4: Calculating Contribution %

 Example: I sold 35 items of dresses, 20 items of tops and 10 items of bottoms. What is the contribution % of dresses in the total Sales.

Contribution of Dresses = \(\large\frac{\text{Number of Dresses sold}}{\text{Total Number of Items Sold}}\)

=\(\large\frac{\text{35}}{\text{35+20+10}}\)

=\(\large\frac{\text{35}}{\text{65}}\)

=\(\large\frac{\text{7}}{\text{13}}\)

= 7 *7.69% = 53.83%

Exercises

Exercise 1

You sold 50 items of phones, 30 items of tablets, and 20 items of laptops. What is the contribution percentage of phones in the total sales?

Exercise 2

You sold 200 kg of fruits, 150 kg of vegetables, and 100 kg of dairy products. What is the contribution percentage of vegetables in the total sales?

Exercise 3

You sold 80 fiction books, 50 non-fiction books, and 30 comics. What is the contribution percentage of comics in the total sales?

Exercise 4

You sold 15 chairs, 10 tables, and 5 sofas. What is the contribution percentage of chairs in the total sales?

Exercise 5

You sold 100 lipsticks, 80 foundations, and 50 mascaras. What is the contribution percentage of foundations in the total sales?

Exercise 6

You sold 60 dolls, 40 action figures, and 20 board games. What is the contribution percentage of board games in the total sales?

Exercise 7

You sold 50 sneakers, 30 sandals, and 20 boots. What is the contribution percentage of sneakers in the total sales?

Exercise 8

You sold 25 mixers, 20 toasters, and 15 blenders. What is the contribution percentage of toasters in the total sales?

Exercise 9

You sold 200 pens, 150 notebooks, and 100 markers. What is the contribution percentage of markers in the total sales?

Exercise 10

You sold 40 curtains, 30 rugs, and 20 lamps. What is the contribution percentage of curtains in the total sales?

Exercises in Retail Maths 3: Calculating Average Selling Price

 Example:  I have 3 categories of fashion: Dresses, Kurtas and Bottoms. Last day I sold 20 Dresses at an average Selling price of 100 Rs, 10 Kurtas at an average selling price of 90 Rs. and 5 Bottoms at an average Selling price of 60 Rs. What is my overall average Selling Price.

In such cases, we use the concept of weighted average. My Weighted average is 

(No of Items in Category 1 x ASP of Category 1 + No of Items in Category 2 x ASP of Category 2 +No of Items in Category 3 x ASP of Category 3 )/ ( Total Number of Items in the Category)

\(\small\frac{\text{No of  Items in Category 1} \times\text{ ASP of Category1} + \text{No of  Items in Category 2} \times\text{ ASP of Category2} +\text{No of  Items in Category 3} \times\text{ ASP of Category 3} }{\text{Total Number of Items in all the categories}}\) 

=\(\large\frac{\text{20} \times\text{ 100} + \text{10} \times\text{ 90} +\text{5} \times\text{ 60} }{\text{20+10+5}}\) 

=\(\large\frac{\text{2000} + \text{900} +\text{300} }{\text{35}}\) = 91.42 Rupees

Exercises

Exercise 1

You have 3 categories of electronics: Phones, Laptops, and Tablets. Last day you sold 15 Phones at an average selling price of 15,000 Rs, 8 Laptops at an average selling price of 50,000 Rs, and 12 Tablets at an average selling price of 20,000 Rs. What is your overall average selling price?

Exercise 2

You have 3 categories of groceries: Fruits, Vegetables, and Dairy. Last day you sold 25 kg of Fruits at an average selling price of 80 Rs/kg, 30 kg of Vegetables at an average selling price of 50 Rs/kg, and 20 liters of Dairy at an average selling price of 60 Rs/liter. What is your overall average selling price?

Exercise 3

You have 3 categories of books: Fiction, Non-Fiction, and Comics. Last day you sold 40 Fiction books at an average selling price of 300 Rs, 25 Non-Fiction books at an average selling price of 400 Rs, and 35 Comics at an average selling price of 150 Rs. What is your overall average selling price?

Exercise 4

You have 3 categories of furniture: Chairs, Tables, and Sofas. Last day you sold 10 Chairs at an average selling price of 2,000 Rs, 5 Tables at an average selling price of 5,000 Rs, and 3 Sofas at an average selling price of 10,000 Rs. What is your overall average selling price?

Exercise 5

You have 3 categories of cosmetics: Lipsticks, Foundations, and Mascaras. Last day you sold 50 Lipsticks at an average selling price of 200 Rs, 30 Foundations at an average selling price of 500 Rs, and 40 Mascaras at an average selling price of 150 Rs. What is your overall average selling price?

Exercise 6

You have 3 categories of toys: Dolls, Action Figures, and Board Games. Last day you sold 25 Dolls at an average selling price of 300 Rs, 15 Action Figures at an average selling price of 400 Rs, and 10 Board Games at an average selling price of 600 Rs. What is your overall average selling price?

Exercise 7

You have 3 categories of footwear: Sneakers, Sandals, and Boots. Last day you sold 20 Sneakers at an average selling price of 1,500 Rs, 15 Sandals at an average selling price of 800 Rs, and 10 Boots at an average selling price of 2,500 Rs. What is your overall average selling price?

Exercise 8

You have 3 categories of kitchen appliances: Mixers, Toasters, and Blenders. Last day you sold 10 Mixers at an average selling price of 3,000 Rs, 8 Toasters at an average selling price of 2,000 Rs, and 6 Blenders at an average selling price of 4,000 Rs. What is your overall average selling price?

Exercise 9

You have 3 categories of stationery: Pens, Notebooks, and Markers. Last day you sold 100 Pens at an average selling price of 20 Rs, 50 Notebooks at an average selling price of 100 Rs, and 30 Markers at an average selling price of 50 Rs. What is your overall average selling price?

Exercise 10

You have 3 categories of home decor: Curtains, Rugs, and Lamps. Last day you sold 12 Curtains at an average selling price of 1,000 Rs, 8 Rugs at an average selling price of 3,000 Rs, and 5 Lamps at an average selling price of 1,500 Rs. What is your overall average selling price?

Exercises in Retail Maths 2: Quick mental Conversion of Markup% to Margin% and Vice Versa

We know now the concept of Markup and Margin ( Refer to the Post here)

To understand how can we quickly and mentally convert markup% to margin% and vice versa, here is a suggested framework.

Step 1: Remember this table of conversion of fraction to percentage:

\(\large \frac{1}{1}\) = 100%

\(\large \frac{1}{2}\) = 50%

\(\large \frac{1}{3}\) = 33.33%

\(\large \frac{1}{4}\) = 25%

\(\large \frac{1}{5}\) = 20%

\(\large \frac{1}{6}\) = 16.66%

\(\large \frac{1}{7}\) = 17.28%

\(\large \frac{1}{8}\) = 12.5%

\(\large \frac{1}{9}\) = 11.11%

\(\large \frac{1}{10}\) = 10%

\(\large \frac{1}{11}\) = 9.09%

\(\large \frac{1}{12}\) = 8.33%

\(\large \frac{1}{13}\) = 7.69%

Step 2: Make use of one of the Rules to convert

Rule 1: To convert Markup% to Margin% divide the Numerator of fraction obtained from Markup% by the (Addition of Numerator & Denominator of the fraction )

Example: Convert 50% Markup  to Margin %

Answer: 

50% Markup is equivalent to 50/100 in fraction 

So divide 50 by 50+100

\(\large \frac{50}{50+100}\) = \(\large \frac{50}{150}\)= \(\large \frac{1}{3}\)= 33.33% ( From Table above)

So 50% Markup is equivalent to 33.33% Margin. 

Rule 1: To convert Margin% to Markup% divide the Numerator of fraction obtained from Margin% by the (Denominator-Numerator)

Example: Convert 50% Margin to Markup %

Answer: 

50% Margin is equivalent to 50/100 in fraction 

So divide 50 by 100-50

\(\large \frac{50}{100-50}\) = \(\large \frac{50}{50}\)= \(\large \frac{1}{1}\)= 100% (From Table above)

So 50% Margin is equivalent to 100% Markup

Exercises ( Try to Do Mentally- If you Cram the table above, it will be very easy for you):

1. Convert 40% Markup to Margin%
2. Convert 25% Margin to Markup%
3. Convert 60% Markup to Margin%
4. Convert 33.33% Margin to Markup%
5. Convert 75% Markup to Margin%
6. Convert 20% Margin to Markup%
7. Convert 100% Markup to Margin%
8. Convert 16.66% Margin to Markup%
9. Convert 30% Markup to Margin%
10. Convert 12.5% Margin to Markup%

Exercises in Retail Maths: Related to Markup and Margin

 1. Problems Related to Markup and Margin 

Markup and Margin both are the difference between Selling Price and Cost Price

eg. A retailer buys a saree at 100 Rs. and sells it for 150 Rs. what would be the markup. What would be the margin.

Solution:

Markup=150-100 = 50 Rs. 

Margin = 150-100=50 Rs. 

 1. Problems Related to Markup% and Margin%

Markup is calculated on the Cost price and Margin is calculated on the Selling Price

Markup%= $\frac{Selling Price-Cost Price}{Cost Price}$

Magin%=$\frac{Selling Price-Cost Price}{Selling  Price}$

for example, in the above case: markup% is defined as

Markup%= $\frac{150-100}{100}$ = 50%

Margin%= $\frac{150-100}{150}$ = 33%

Exercise 1

A retailer buys a pair of shoes for 80 Rs and sells it for 120 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Exercise 2

A shop owner buys a jacket for 200 Rs and sells it for 260 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Exercise 3

A book is purchased by a bookstore for 150 Rs and sold for 225 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Exercise 4

A mobile phone is bought for 5000 Rs and sold for 6500 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Exercise 5

A laptop is bought for 30000 Rs and sold for 37500 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Exercise 6

A refrigerator is bought for 15000 Rs and sold for 19500 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Exercise 7

A TV is bought for 25000 Rs and sold for 31500 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Exercise 8

A washing machine is bought for 18000 Rs and sold for 23400 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Exercise 9

A microwave oven is bought for 8000 Rs and sold for 10400 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Exercise 10

A bicycle is bought for 7000 Rs and sold for 9100 Rs. Calculate the Markup, Margin, Markup%, and Margin%.

Write the answers to the exercises in Comments.