STILL not understanding Mark-Ups and Margins!
Mollypod88
Registered Posts: 155 Beyond epic contributor 🧙♂️
Hi All,
I'm still not understanding Mark-Ups and Margins! This is the only thing I failed on and I really don't want to fail again!
Is anyone else struggling?
I'm still not understanding Mark-Ups and Margins! This is the only thing I failed on and I really don't want to fail again!
Is anyone else struggling?
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Comments
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Hi
In what way are you having problems?
Neil0 -
Meeeeeeee! I am still struggling, I have my AP2 tomorrow and I am confident on all apart from this.
Mark did a tip sheet which did help BUT as soon as I get the question infront of me I panic, did a mock last night that asked for cogs and worked it out wrong I did the figure/100xby the difference anywho it was wrong.
I understand like something is meant to be 100% and you work out from that but my brain doesnt like it :crying:0 -
Mollypod88 wrote: »Hi All,
I'm still not understanding Mark-Ups and Margins! This is the only thing I failed on and I really don't want to fail again!
Is anyone else struggling?
I used excel to play around with mark up and margins, to get my head around it all.0 -
Firstly Markup
Say Purchase Price is £150
and Sales price is Price say is £200
Divide difference in these two figures by purchase price = Markup...
50/150 = 0.33 *100 = 33% Markup.
To check = Sales price £150 multiply by 33% = £2000 -
Margin
For a 5% margin divide cost by .95
For a 10% margin divide cost by .90
For a 15% margin divide cost by .85
and so on.0 -
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