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What I do is organize it as follows...

Cost Price = 100%

Selling Price = 100% + profit percent

Then you can fill in the variables and cross multiply, for example if you know the selling price is $27 and the profit percent is 10% then you can fill it in accordingly...

Cost Price = 100%

$27 = 100 + 10

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Cost Price = 100%

$27 = 110%

Then you do ($27 x 100%) / 110 to get $24.55.

That means that the Cost price is $24.55

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Q: How do you calculate cost price if we know the selling price and profit percent?
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