Ok, I'm starting a business and need some help determining profits and markups. This is probably simple math but i'm stupid when it comes to math. Heres what i'm trying to figure out:
If i'm selling something for $3.50 and i buy it for $1.15, what is the mark up percentage.
What i thought was divide 350 by 115 and multiply by 100, is this correct?
2006-10-23 17:21:09 · 3 answers · asked by r_adkinstx 1 in Business & Finance ➔ Small Business
Yes - you are correct:
Your cost * (1 + Mark Up Percentage) = Sales Price
1.15 * (1+n) = 3.50
In your example, the mark up percentage is over 200%, i.e., you are more than tripling the price. (That's a good business model!!)
2006-10-23 17:27:34 · answer #1 · answered by Jeff A 3 · 0⤊ 0⤋
(price divided by cost) x 100) -100 = markup
3.50 / 1.15 = 3.04=304%
304-100=%204 markup
0 markup would be 1.15
100% markup would be 2.30
2006-10-24 00:29:18 · answer #2 · answered by dantheman_028 4 · 0⤊ 0⤋
3.5 / 1.15 = 3.04 * 100 = 304% markup
2006-10-24 00:31:36 · answer #3 · answered by tma 6 · 0⤊ 0⤋