What is equivalent markup based on cost of a water fountain that is marked up 80% based on the selling price?
To find the equivalent markup based on the cost of a water fountain that is marked up 80% based on the selling price, you can follow these steps:
1. Let's assume the cost of the water fountain is C.
2. The markup based on the selling price means that the selling price is 100% + 80% = 180% of the cost.
3. To convert the selling price to the cost, we need to divide it by 180% (or 1.8 as a decimal): selling price / 1.8.
4. The markup is the difference between the selling price and the cost. So, the equivalent markup based on the cost can be calculated as follows: selling price / 1.8 - C.
Please note that without specific values for the cost or selling price, this is a general formula to calculate the equivalent markup based on the cost.
To find the equivalent markup based on the cost of a water fountain that is marked up 80% based on the selling price, you can follow these steps:
1. Start by determining the selling price (SP) of the water fountain. Let's assume the selling price is SP.
2. Calculate the cost (C) of the water fountain by using the formula: C = SP - Markup.
Here, the markup is 80% of the selling price, so Markup = 0.8 * SP.
Therefore, C = SP - 0.8 * SP = 0.2 * SP.
3. Next, determine the equivalent markup based on the cost by dividing the markup (0.8 * SP) by the cost (0.2 * SP).
This can be written as: Equivalent Markup = (0.8 * SP) / (0.2 * SP).
4. Simplify the expression: Equivalent Markup = 0.8 / 0.2 = 4.
Therefore, the equivalent markup based on the cost of a water fountain that is marked up 80% based on the selling price is 4.
In summary:
Equivalent Markup = (Markup) / (Cost)
Equivalent Markup = (0.8 * SP) / (0.2 * SP)
Equivalent Markup = 0.8 / 0.2
Equivalent Markup = 4
if the selling price is 80% profit, then it is 20% cost.
So, the markup is 400% based on cost.