How to find original price when you know retail price and markup/discount percent?
Hi I need help with math, I need to figure out the original price when you have the markup or discount percent and retail price.. 1.) retail: $24 markup %: 115% 2.) sales price: $210 discount %: 30% my teacher said to use (1.15)(x)+(x)=24 but this makes no sense to me..
How is a price markup calculated?
This simple video should help you understand retailer margin and markup calculations
Is it legal for liquidation companies to markup the ‘original’ price on goods at a liquidation sale above what the store actually sold them for so the xx% off sale price is higher than it would be?
It is legal for a liquidation company to charge whatever they want for anything they are selling. Their mandate is to get the most money for the goods being sold as possible. Often these companies are paid a percentage of the revenue they bring in from the sale, so it is in both their interest and the interest of their client to maximize that revenue.Inflating the original price in order to offer a higher discount while still charging a premium is both legal and very common. The risk of doing this is alienating customers who know their prices. You, as a buyer, have a choice to buy or not buy. If you think the price is too high, or are offended by these sales tactics, don’t buy.
Pricing: How do you calculate Margin and Markup?
Margin is profit divided by revenue, and markup is profit divided by cost.The underlying thinking for using margin is that you start with value-based thinking and set the price accordingly: what is the value my product or service creates for the customer? When you use markup, you start with cost-based thinking: what markup can I charge to the customer on top of my cost to buy or produce?As an example, let’s take a revenue for your product or service of $100, a cost of $80, and a profit of $20. In both the margin and the markup calculation, the profit of $20 is the numerator in the equation. However, what you take as the denominator is different! When you calculate margin, you divide profit by revenue. When you calculate markup, you divide profit by cost. So for margin, we take $20 profit divided by $100 in revenue which equals 20%. For markup, we take $20 profit divided by $80 cost, which is a 25% markup.For a more complete discussion of margin versus markup, please view my 3-minute YouTube video on the topic of margin versus markup.
Find the price, discount, or markup?
1.Original price: $15 Discount: 5% Sale Price: $14.25 ($15 x 0.95) 2. Original price: $189 Discount: 60% ($113.40/$189 x 100) Sale Price: $75.60 3. Cost to Store: $15 Markup: 65% ($9.75/$15 x 100) Selling price: $24.75 4. Cost to store: $5.50 Markup: 75% Selling Price: $9.63 ($5.50 x 1.75)
Retail price of the ladder by 25 perceny. What percent markup is the new retail price over the manufacturer price?
A store sells ladder. -The retail price was a 40 percent markup over the manufacturer price. -A month later, the store reduced the retail price of the ladder by 25 percent. What percent markup is the new retail price over the manufacturer price
Calculate the final selling price to the nearest cent and markdown percent to the nearest hundredth percent:?
Original Selling Price: 5300 First Markdown: 35 Percent Second Markdown: 20 Percent Markup: 15 Percent Final Markdown 20 Percent Final Selling Price? Markdown Percent?
The price of gasoline was marked up by 20%, then marked down by 10%, then marked up by 15% again. What single markup percentage would have the same effect?
Id love to answer but we are missing a very important piece of information. The initial cost. But we can substitute in variables.Lets say the initial cost is value “x”.To find the initial markup of 20% multiply x by 1.20 or you can multiply x by 0.2 and then add that value to the initial x value.i.e. x*1.2=yNow take the value of x + 20% (which we will call value “y”) and multiply it by 0.90 which will account for the 10% markdown.i.e. y*0.9=zNext, take the total after the 10% markdown value (which we will call value “z”) and multiply it by 1.15 or, as we did before, you can multiply value “z” by 0.15 and add that value to the initial value “z”.i.e. z*1.15= Final ValueNow that you have this final value after all the markups/markdowns, you can divide this final value by the initial cost and multiply by 100 to give you the equivalent percentage markdown.(Final Value/Initial Cost)*100= Single Markdown With Same EffectHope this helped!
If a retailer offers a discount of 32% on the marked price of their goods and thus end up selling at cost price, what is the percentage of the markup price?
Let Cost Price = xMarked Price = yxDiscount = 32% of yx = 0.32yxSelling Price = 0.68yxBut CP = SP=> x = 0.68yx=> 1 = 0.68y=> y = 1/0.68 = 1.4705=> Mark up is 47.05% of CP:-)
What's the difference between margin and markup?
Margin is profit divided by revenue, and markup is profit divided by cost.As an example, let’s take a revenue for your product or service of $100, a cost of $80, and a profit of $20. In both the margin and the markup calculation, the profit of $20 is the numerator in the equation. However, what you take as the denominator is different! When you calculate margin, you divide profit by revenue. When you calculate markup, you divide profit by cost. So for margin, we take $20 profit divided by $100 in revenue which equals 20%. For markup, we take $20 profit divided by $80 cost, which is a 25% markup.For a more complete discussion of margin versus markup, please view my 3-minute YouTube video on the topic of margin versus markup.