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Any Mathematical Geniuses' out there?
pettgra
Posts: 1,573
I have lost the will to live. My daughter said that if I have a thirty per cent mark up on my products; how much do I need to sell to make 200GBP.
I am convinced that the answer is 153.84 GBP. I did this in the most painstakingly way possible by process of elimination.
Does anyone know the correct formula for doing this. I am sure it can be done by a few strokes of a pen or pushing a couple of buttons on a calculator.
Gone for a lie down.
I am convinced that the answer is 153.84 GBP. I did this in the most painstakingly way possible by process of elimination.
Does anyone know the correct formula for doing this. I am sure it can be done by a few strokes of a pen or pushing a couple of buttons on a calculator.
Gone for a lie down.
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Comments
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Am I being simple or is it 200 / 1.3 = 153.84615
the .3 being 30%0 -
You're right in that £153.84 * 1.3 = £200 (approx) but if you sell £153.84 of your product at £200 then you've only made £46.16 haven't you.
So you need to sell 4.333 lots of your product (costing £666.58 to get you £866.60 and therefore MAKE £200)
E&OE
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You need to sell £667 worth of product for £867.
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My god. You lovely person.
I feel a bit thick now, but I do not mind!0 -
surely its £666.66 to make £2000
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Nah... confused0
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Cheers guys.0
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Dont ask Steve McLaren... After X team scores 3 and his team scores 2... he thinks the team that score less are better!!1
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Remember the difference between Mark-Up and Margin......0
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Henry's VAT calculator reminds us that if you've sold £867 of stuff, then only £722.25 will come to you with the rest going to HMRC. So, you've made less than £200.Henry Irving said:
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Very true - I read it as margin.PL54 said:Remember the difference between Mark-Up and Margin......
If 30% is the margin then 200 x 100/30 = £666.67 is correct
If 30% is the mark-up (which was the question) then the margin is 30% of 130% of cost = 23.077%
The calculation would then be 200 x 100/23.077 = £866.67 as others have said.0 -
Pettgra , if you've got an ipad / smart phone you can get an app called Margin Ninja , put in whether the product has Vat or not , put in the cost price & then the retail price and then it will give you a margin.0
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SALES £866.67 (to nearest penny) (130%)
PURCHASES £666.67 (to nearest penny) (100%) - 30% mark up on this
PROFIT £2000 -
This is correct - a 30% Mark Up.LenGlover said:SALES £866.67 (to nearest penny) (130%)
PURCHASES £666.67 (to nearest penny) (100%) - 30% mark up on this
PROFIT £200
If you wanted £200 to represent a 30% Margin then you would have Sales of £666.66 and Purchases (Cost of Sales) as £466.66 (excuse rounding errors) - This would of course equal a 42.85% Mark Up.0 -
Yes.0
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No, still confused...0
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Algebra does the job:
x * 130 / 100 = x + 200
Multiply both sides by 100
130x = 100x + 20000
Take 100x from each side
30x = 20000
x=20000 / 30 = 666.67
QED0 -
Not if you're Starbucks, Amazon or Vodaphone.cafcfan said:
Henry's VAT calculator reminds us that if you've sold £867 of stuff, then only £722.25 will come to you with the rest going to HMRC. So, you've made less than £200.Henry Irving said:
To make a £200 profit with them, you actually need to show a loss of £667.
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Cheers guys very useful indeed. It is pretty apparent that Charlton supporters are smarter than the average bear.0
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It's 41.1
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42 surely?Callumcafc said:It's 41.
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Ha ha - Callum thinking along the same lines as me.0
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Even the best legal and accounting minds at these esteemed organisations cannot get out of paying VAT!Addickted said:
Not if you're Starbucks, Amazon or Vodaphone.cafcfan said:
Henry's VAT calculator reminds us that if you've sold £867 of stuff, then only £722.25 will come to you with the rest going to HMRC. So, you've made less than £200.Henry Irving said:
To make a £200 profit with them, you actually need to show a loss of £667.
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HMRC don't do VAT though - isn't that Customs and Excise?
And aren't books VAT free? (Amazon)
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