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If you buy something for £1 and sell it for £3, then you've made 200% profit.
Edit
It is impossible to have 200% profit margin
It's also impossible to have a 100% profit margin
You can have a 200% MARKUP
But profit margin formula is 1 - (1 / (1 + (Markup))
So example
lets say you buy something for £1 and sell it for £3 then your markup 200% or £2
Your profit margin = 1-(1/1+(£2))
Profit margin = 67%
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