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Dear Mr. John,
All sales are made at Mark up on cost of 20%?
Is it 20/120 or 20%only on total.
Regards,
VictorBy definition, the profit is 20% of the cost and therefore the sales are 120% of the cost. The cost is therefore 100/120 of the sales, and the profit is 20/120 of the sales.
This is all explained, with examples, in my free lectures on mark-ups and margins.
Dear Mr. John,
Answer says
(6700+84000-5400)*20%
=17060 Answer
Regards
VictorHow I am supposed to check when you have not told me the question?!!!
Presumably the figures in your brackets are the cost, in which case the profit is 20% as is written, and as I wrote in my previous reply. If not, then either you have mistyped the question or there is an error in your book.
Have you actually watched my free lectures on mark-ups and margins?
Dear Mr. John
As per the soluation of your lecture :
Margin 40%= 15000
Therefore: 15000*60%=9000
Mark up 40% =15000
Therefore 15000*100/140=10714.2
If this is correct
Regards,
Victor
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