How to Find the Unit Price of a Product?

Unit price is the price per unit of the product that can be calculated for each product regardless of its packaging. In this guide, you learn more about how to find the unit price of a product.

How to Find the Unit Price of a Product?

The unit price or “unit cost” is the cost per kilogram or other units of weight or volume of each commodity one wants to buy.

Step by step guide to finding the unit price of a product

When we talk about the unit price, what we are talking about is the “price per unit” of a product. To understand this, let us give a simple example. In a supermarket, the cost of \(20\) units of a product is \($360\). Here we have to find the price of one unit. Let’s use the unit price formula to find it.

\(\color{blue}{Unit\:Price=\:\frac{Total\:Price}{Number\:of\:units}}\)

The price of one product is \(360 ÷ 20=18\). So the unit price is \($18\).

Note: Comparing unit prices can be a good way to find the “best buy”. Of course, it does not tell you the quality of what you are buying, but it can help you make a decision.

Finding Unit Price of a Product – Example 1:

What is best?

  • \(10\) pencils for \($4.00\), or
  • \(6\) pencils for \($2.70\)?

Solution:

To solve, use the unit price formula: \(Unit\:Price=\:\frac{Total\:Price}{Number\:of\:units}\)

  • \(\frac{$4.00}{10} = $0.40\) per pencil
  • \(\frac{$2.70}{6} = $0.45\) per pencil

So the lowest unit price (and best deal) is \(10\) pencils for \($4.00\).

Exercises for Finding the Unit Price of a Product

  1. A cruise ship travels \(30\) miles in \(50\) minutes. How far does the ship travel per minute?
  2. What is best? \(2\) liters of milk at \($3.90\), or \(1.5\) liters of milk at \($2.85\)?
  3. John can complete \(280\) units of work in \(8\) days. How many units of work can he complete per day?
This image has an empty alt attribute; its file name is answers.png
  1. \(\color{blue}{0.6\:\frac{mile}{minute}}\)
  2. \(\color{blue}{1.5\:liters\:at\:$2.85}\)
  3. \(\color{blue}{35\:\frac{units}{day}}\)

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