SOLUTION: How do you figure a percentage profit on cost? If you have a item with the cost of $150.00 and want to make 35% profit on it what formula do you use? Is that called gross profit o

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Question 6708: How do you figure a percentage profit on cost?
If you have a item with the cost of $150.00 and want to make 35% profit on it what formula do you use? Is that called gross profit on cost?
Thanks,
Ron.

Answer by prince_abubu(198) About Me  (Show Source):
You can put this solution on YOUR website!
Use P%5B0%5D+%2B+P%5B0%5Dr+=+P%5Bf%5D+. P sub zero is the initial price, r is the percent you want to increase P sub zero by to get to P sub f, the final price.

So, +150+%2B+150%2A0.35+=+202.5+ <---- So, the increased price is $202.50. Your profit would've been $52.50