you minus it
Cost price * markup + tax = selling price
The selling price would be 17.25 if it cost 15 and the percent of markup is 15.
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.
Markup
you minus it
Cost price * markup + tax = selling price
Selling price less profit equals cost price. The markup is the profit plus cost price.
The selling price would be 17.25 if it cost 15 and the percent of markup is 15.
(Selling Price - Cost price)/Selling Price * 100
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.
There is no cost for which a 58% markup would give a price of 130.50.
Markup
if it is 6.80 dollars markup, selling price would be 1267.25. if 6.8%, it'd be 1346.16
Markup income typically refers to the profit or revenue generated by adding a markup or margin to the cost of goods or services. In business and finance, "markup" is the amount added to the cost of producing or purchasing a product or service to determine its selling price. The markup is essentially the difference between the cost of production and the final selling price. The formula for calculating markup is: Markup = Selling Price − Cost Price Markup=Selling Price−Cost Price Markup is often expressed as a percentage of the cost price. The formula for calculating the markup percentage is: Markup Percentage = ( Markup Cost Price ) × 100 Markup Percentage=( Cost Price Markup )×100 So, markup income is the additional revenue or profit earned by a business through the application of a markup to its costs. This concept is commonly used in various industries to determine pricing strategies and to ensure that businesses cover their costs and generate a profit. you can get more explanation when you click this link and learn everything about markup income
1. Determine your product/service cost. How much did it cost you? As an example, let's assume the product cost is $1.40.2.Determine the percentage markup you wish to apply. Research your industry to apply a markup that will be competitive. In this example, we will use 30 percent.3. Convert the percentage markup to a decimal. In this case, a 30 percent markup would translate to 0.30 (30 divided by 100).4. Subtract the decimal in STEP 3 from 1. In this example, 1 minus 0.30 equals 0.70.5. Compute the total selling price by taking the cost from STEP 1 and dividing it by the result from STEP 4. In this example, $1.40 is divided by 0.70. The result is $2.00, which should be the total selling price.6. Calculate the price markup by subtracting the product cost from the selling price. In this example, the $2.00 selling price minus the $1.40 product cost gives you a price markup of $0.60.
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