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#2 2005-11-14 15:34:22
- ryos
- Power Member
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Re: Mark UP and Mark Down
Who's cost is this? Is that the price a store pays for something? If so, then you just have to divide the regular price by 1.7.
To see why, remember that to mark it up 70%, the store multiplied the cost by 1.7. Algebraically,
P = 1.7*C
So, to go back to the cost from the price, just do the opposite: divide by 1.7. Algebraically, you solve for C:
C = P/1.7
El que pega primero pega dos veces.
#3 2005-11-14 17:01:14
- MathsIsFun
- Administrator
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Re: Mark UP and Mark Down
Another "markup" one. I am sticking with my definition of markup, which does NOT include overheads.
So Cost plus Markup = Regular Price
Cost × (1.7) = 1845.24 → Cost = 1845.24 / 1.7 = 1085.43
Sale Price = 1845.24 × 0.6 = 1107.14 (also 1845.24-738.10=1107.14)
Profit does need to consider overhead, so:
Cost plus Overhead = 1085.43 × 1.5 = 1628.14
Profit WAS 1845.24-1628.14=217.1
Profit IS NOW 1107.14-1628.14=-521 (521 LOSS)
"The physicists defer only to mathematicians, and the mathematicians defer only to God ..." - Leon M. Lederman