How to find markup percentage on product cost?
Markup is termed as the difference between the selling price and the cost price of the product as a percentage of the cost price. Mark up is the amount that is charged to the customer above the cost price. In other terms it can be used as margin over the cost price which the seller keeps.
For example if the cost price of a product is $100 and the selling price of the product is $120, then the market can be calculated by subtracting the selling price and the cost price and dividing that by cost price.
In this case markup will be (120-100)/100 = 0.20
So to calculate the markup in percentage it is to be multiplied by hundred therefore it will give
0.20*100 = 20%.
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