# I need formulas.....

• Aug 19th 2009, 05:19 PM
KiRRa
I need formulas.....
I am stuck and need 2 formulas.

Firstly i need to work out my mark-up and selling price when all i have been given is
cost - \$90 and gross profit of 25%

Secondly i need to work out my mark-up and cost when all i have been given is
selling price \$240 and gross profit of 37.5%
• Aug 19th 2009, 09:44 PM
TKHunny
You will have to define what you mean by "markup". There are two ways to do it.

Example:

If Cost = \$100 and Selling Price = \$150, making the Gross Profit \$50, we have two things...

1) Percent of Selling Price: 50 / 150 = 33.33% markup.
2) Percent of Cost: 50 / 100 = 50.00% markup.

Which will you define for us?
• Aug 20th 2009, 05:39 PM
KiRRa
I'm completely confused by this, one formula seems to work for one but not another (Headbang)
So basically i'll just ask u what the question is asking me and hopefully you can help me.

It's asking me to fill in the missing figures (which i have written in red)
Cost , Mark-up , Selling price , Gross Profit
\$ % \$ %
(a) 140 40 196 28.57
(b) 90 33.33 120 25
(c) 123 30 160 23.08
(d) 150 60 240 37.50

I know this may seem like im asking you to do it for me, but i have the answers and i have spent hours of time trying to figure out how they got them its just gone right over my head though. (Worried)
• Aug 20th 2009, 09:45 PM
CaptainBlack
Quote:

Originally Posted by KiRRa
I am stuck and need 2 formulas.

Firstly i need to work out my mark-up and selling price when all i have been given is
cost - \$90 and gross profit of 25%

Secondly i need to work out my mark-up and cost when all i have been given is
selling price \$240 and gross profit of 37.5%

selling_price= cost*(1+gross_profit/100)

mark_up=selling_price - cost

CB
• Aug 20th 2009, 10:26 PM
KiRRa
Thanks CB i'll try that :)
• Aug 20th 2009, 11:52 PM
CaptainBlack
Quote:

Originally Posted by CaptainBlack
selling_price= cost*(1+gross_profit/100)

mark_up=selling_price - cost

CB

For what you post you have the mark up expressed as a percentage, in which case you have:

mark_up=[(selling_price-cost_price)/cost_price]*100 %

CB
• Aug 20th 2009, 11:53 PM
CaptainBlack
Quote:

Originally Posted by KiRRa
Thanks CB i'll try that :)

You can also try typing "mark up" and "gross profit" into Wikepedia (or more logically look them up in your course notes and/or text)

CB
• Aug 24th 2009, 05:06 PM
KiRRa
Quote:

Originally Posted by CaptainBlack
For what you post you have the mark up expressed as a percentage, in which case you have:

mark_up=[(selling_price-cost_price)/cost_price]*100 %

CB

Thanks, this one worked but still stuck on the others. Thankfully im able to go in and speak with the teachers today (Clapping)