..... needs math help (%)

[cookiebun]

Help!
If I have something that costs $189 and I raise the price to $299 what percentage is the mark up?
Can any one tell me how to work the equation?

Edit
I can't call my self a M----O---R---O----N here?!
Sheesh!

 

[mmsjs5]

divide 299 by 189 and you get 1.58201058201

drop the 1 because that represents the original $189 and you get .58201058201

drop everything off after the 1st 0 (in this example)

move the decimal point 2 spaces to the right to get to the percentage and you get 58.20%

I'm sure this is the long way 'round but it's how my brain processes math.

 

[cookiebun]

Thank You!

 

[Elendil]

or you could take the amount of the price increase (110) divided by the original price (189). The first 2 digits of the answer is your percentage increase. The answer is exactly the same as mmjs5 pointed out, just a bit shorter way to get there.

 

[mmsjs5]

Thank you Elendil, I knew there had to be an easier way.

 

[Toronnah]

(price-cost)/cost x 100 is your percent markUP on cost.

Markups always need to be based on your cost, not final price.

.: (299-189)/189 x 100
=58%

While this is arrived at above, here is the formula to use heading forward.