1. ## 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%

2. 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 $50, we have two things... 1) Percent of Selling Price: 50 / 150 = 33.33% markup. 2) Percent of Cost: 50 / 100 = 50.00% markup. Which will you define for us? 3. I'm completely confused by this, one formula seems to work for one but not another So basically i'll just ask u what the question is asking me and hopefully you can help me. It's asking me to fill in the missing figures (which i have written in red) Cost , Mark-up , Selling price , Gross Profit$ % $% (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. 4. 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

5. Thanks CB i'll try that

6. 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

7. 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

8. 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