SOLUTION: If I bought an item for $100 and I want to make a 35% profit margin when I sell it, what price do I sell it for? What is the difference between percent profit and percent profit m

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: If I bought an item for $100 and I want to make a 35% profit margin when I sell it, what price do I sell it for? What is the difference between percent profit and percent profit m      Log On


   

Question 176223: If I bought an item for $100 and I want to make a 35% profit margin when I sell it, what price do I sell it for? What is the difference between percent profit and percent profit margin, or is there a diference?
Answer by nerdybill(7384) About Me  (Show Source):
You can put this solution on YOUR website!
If I bought an item for $100 and I want to make a 35% profit margin when I sell it, what price do I sell it for?
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selling price =100 + .35(100)
selling price =100 + 35
selling price = $135
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What is the difference between percent profit and percent profit margin, or is there a difference?..
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"percent profit" is how much is made by selling the item (calculated above).
"percent profit margin" is how much is made by selling the item (calculated above) MINUS any expenses associated with the sale -- an example might be cost of packaging, shipping, handling, etc -- these must be deducted from "profit".
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