How To Calculate The Percent Of Profit? Is It Sale Price - Cost To Buy Item * X/100? I'm Confused.
If the sale price was 560 and the item cost the store 420 how much percent did they profit?
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Profit is usually expressed as a percentage of the selling price.
profit = ((selling price) - (cost))/(selling price)
= (560 - 420)/(560) = 140/560 = .25 = 25/100
profit = 25% of sales
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On the other hand, markup is usually figured as a percentage of the cost.
markup = ((selling price) - (cost))/cost = 140/420 = .333 = 33.3%
profit = ((selling price) - (cost))/(selling price)
= (560 - 420)/(560) = 140/560 = .25 = 25/100
profit = 25% of sales
_____
On the other hand, markup is usually figured as a percentage of the cost.
markup = ((selling price) - (cost))/cost = 140/420 = .333 = 33.3%
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