Unit Price
 |
The "Unit Price" (or "unit cost") tells you the cost per liter, per kilogram, per pound, etc, of what you want to buy.
Just divide the cost by the quantity:
Example 2 liters for $3.80 is $3.80/2 liters = $1.90 per liter
|
Comparing
Comparing Unit Prices can be a good way of finding which is the "best buy".
Example: What is best
- 2 liters of Milk at $3.80, or
- 1.5 liters of Milk at $2.70 ?
In this case the "Unit" is 1 liter, and the Unit Prices are:
- $3.80 / 2 liters = $1.90 per liter
- $2.70 / 1.5 liters = $1.80 per liter
So the lowest Unit Price (and the best bargain) is 1.5 liters at $2.70.
Of course it doesn't tell you the quality of what you are buying, but it can help you make a decision.
If something is sold in number of items (for example "10 pencils") then the same method can be used:
Example: What is best
- 10 pencils for $4.00, or
- 6 pencils for $2.70 ?
Here is the Unit Cost:
- $4.00 / 10 = $0.40 per pencil
- $2.70 / 6 = $0.45 per pencil
So the lowest Unit Price (and the best bargain) is 10 pencils for $4.00
Practice
You can practice with the Unit Price Game
|
Home
