Beverly,
To find the profit margin as a percentage take the net income (that is revenue minus expenses) divided by revenue and then multiply by 100. In other words it is the profit as a percentage of the revenue. To develop a formula let R be the revenue, C the costs and P the profit margin, then
^{(R  C)}/_{R} 100 = P
In your situation you have C = $73.00 and P = 30% so
^{(R  73)}/_{R} 100 = 30
Solving for R gives
^{(R  73)}/_{R} 100 = 30^{
(R  73)}/_{R} = 0.30
R  73 = 0.3R
0.7R = 73
R = $104.29
Penny
Supplemental from Sue:
Hi Beverly.
You can view your problem this way: I'll be selling my product for some price (call it R). 30% of that price should be my profit, so that means 70% of the price is what it costs me to make it. 70% is just another way of saying 0.7, so
0.7R = $73
If you divide both sides by 0.7, you get
R = $104.29
Stephen La Rocque.>
