How to Find the Unit Price of a Product?

Unit price is the cost of one unit of a product: divide the total price by the quantity. It is what makes two differently sized packages comparable. Below: the method step by step, worked examples, and exercises comparing package sizes.

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.

A 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?

1. \(\color{blue}{0.6\:\frac{mile}{minute}}\)
2. \(\color{blue}{1.5\:liters\:at\:$2.85}\)
3. \(\color{blue}{35\:\frac{units}{day}}\)