The price of an LP token is calculated by dividing the total value locked in that pool by the total amount of LP tokens existing at that time.

Example:

Let's calculate the price of a Kubic LP (KLP) obtained after adding liquidity to the KUBIC/WOOP pool.

We look for the total value locked:

Click on "View on BscScan" and access the contract of that farm pool to find the total amount of KLP tokens at that moment:

With the data collected, we make the following operation:

$7,692,559 (total liquidity in the pool) / 78,363,839 KLP (total LP tokens) = $0.098 (value of a KLP).