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If you know your cost, then you can find the price you must charge by
Multiplying the cost by 1 plus the percent of profit you want. In the
Example above:
Cost = $60
Required Profit = 24%
60 * 1.24 = 74.4
You must charge at least $74.40 to achieve your required profit margin.
The formula for markup percentage is (Sell Price - Cost) / Sell Price.
Cost = $60
Sell Price = $65
(65 - 60) / 65 = .0769
Markup Percentage is 7.69%
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