How to Use Unit Price Calculator
Enter the price of the item.
Enter the quantity.
How to Calculate Unit Price
Unit Price Formula = Cost of Item / Quantity
Let's use an example were we have gone out grocery shopping, you found 32 ounces of butter on sale for $5, to check the price per ounce. We divide the price by the quantity: 5 / 32 = 0.15625, lets round it up to 16, an ounce of butter costs 16 cents.
A packet of ping pong balls which has 12 balls and costs $7. We again divide the price by quantity: 7 / 12 = 0.5833. Each ping pong ball costs 58 cents if we round it down.
We can also compare unit prices to help us find the best option. If we have 2 liters of orange juice for $3 and 1.5 liters of orange juice for $2.50, which is the better option?
The unit price for 2 liters is $1.5 per liter, while the 1.5 liter is $1.66 per liter. Therefore the 2 liters is the best option price wise as its 16 cents cheaper per liter.
Definition: In retail, it is the price divided by the number of units, which can be liters, ounces etc.
It is good practice to check the unit price when grocery shopping as it allows you to compare unit prices and find the best deal. Comparing the prices does not show the quality of the items you are considering buying but it can help you in deciding which item is the best option.