We are trying to find the original value of a product marked up by 10%. What is the formula to determine the original value?
Example: Price $27.50 how do we find the original value prior to 10% mark up?
If you knew the original value then you would multiply by 1.10 to calculate the price after markup. Thus if you know the price after markup you divide by 1.10 to find the original value. Hence if the price after markup is $27.50 then the original price was $27.50/1.10 = $25.00.Cheers,