How do you work out the percentage mark up/ gross profit?

[TheOriginalXENA]

So if I sell something for 20 but I only paid 7.56 how do I work out what percentage I have marked it up by? I can find online calculators for doing it but I want to know the sum behind it IYSWIM?

difference is 12.44

12.44/7.56 = 1.64

64% mark up

(I think)

£20(selling price) - £7.56(cost price) to get the cash profit of £12.44 as a % of selling price 12.44/20 x 100 = 62.2%. if vat is involved it is slightly more complicated or 20/7.56 gives a 2.65 mark up

Useful guide to percentages here.

thanks I shall look at those... am trying to get a promotion and needed to beable to do these reports..... which I only can using online calcs!

Your Profit Margin = Profit / selling Price

12.44 / 20 = 62%

Your Mark up on the cost of £7.56 is = Profit / cost

(12.44 / 7.56 )x100 = 164%