Find buying in price :
Selling price :￡64
mark up : 45%
Hello
Selling Price is ￡64 which is 145% of Cost Price
64 / 145 X 100 = Cost Price
￡44.14 (Correct to 2 Decimal points)
Andy C
Cost = Selling price / (1 + Markup)
Cost = 64 / 1.45 = 44.14
At this point, profit = 64 - 44.14 = 19.86
And Markup = Profit / Cost = 19.86/44.14 = 45%
I'll tell you how to work it out but you do the sum yourself.
￡64 is 145% so just work out what 100% is to find the buying in price.
The amount multiplied by 1.45
64 x 1.45 = 92.80
