(Selling Price - Cost price)/Selling Price * 100
Selling price less profit equals cost price. The markup is the profit plus cost price.
Multiply by 1.75
3962 -1162 = 2800 which is dealer cost markup % = (3962/2800 - 1) times 100 to get percent = 41.5%
There is no cost for which a 58% markup would give a price of 130.50.
The correct formula when markup is based on the selling price is selling price is equal to the markup plus the cost. This enables traders make profits.
you minus it
Cost price * markup + tax = selling price
if it is 6.80 dollars markup, selling price would be 1267.25. if 6.8%, it'd be 1346.16