Quandaries
and Queries 

Question:
Can you explain the difference between the way I did it and the way a Business calculator does it? thanks, 

Hi Nick, Percentages can be confusing partly because, in daytoday language, we use the term percentage without saying percentage of what. That is precisely the problem here. You are calculating a percentage of what it cost you and your calculator is finding a percentage of what your customer will pay. The item costs you $11.00 and your calculations will mark it up 40% of the $11.00. Your calculator is looking at this from your customer's point of view. If your customer sees a ticket price of $18.33 on the item and knows you paid $11.00 and marked it up $7.33, then he calculates $7.33 as 40% of $18.33. Thus your cost of $11.00 is 60% of $18.33. Your calculator finds the ticket price of $18.33 as follows.
I hope this helps, 

