Hi,
I have a group of 1000 items which I have grouped by 6 types. I want to split each of these groups by % of profit that I will make on them, i.e 55,150 etc
I know I can work out what percentage profit I am making by : profit/cost x 100, and I can work out up to 99% profit (the way I currently calculate it is profit x 1.99) But how do I work out any amount over 100%, say for instance I have something that costs me $0.52 that I wish to sell for 250% profit?
Hope you can help.
Many Thanks
Sam
Hi Sam,
The expression is the same
profit, as a percentage of the cost = profit/cost
100
So if your cost is $120 and your profit is $30 (that is you sold the item for $150) then your profit, as a percentage of your cost is
$30/$120
If again your cost was $120 and your profit was $120 (that is you sold the item for $240) then your profit, as a percentage of your cost is
$120/$120
If your cost is $0.52 and you want a profit of 250% then
profit/$0.52
and hence
profit = (0.52
Thus you must sell the item for $0.52 + $1.30 = $1.82
Penny