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The mark up is 75.00 - 50.00 = 25.00
A 100% mark up doubles the selling price.
Cost price * markup + tax = selling price
The original mark up was 50%.
If you know the trade price, and the the mark-up (profit) - simply multiply the trade price by the percent mark-up plus 1. Using your example - you have a phone which you bought at 1500 trade, and you want 50% profit, then the selling price is 1.5 x 1500 which is 2250.