To calculate the cost when the selling price and percent of the markup are known, you would use the following forumla:
$$\operatorname { cost } = \frac { 100 \% + \text { percent of markup on cost } } { \text { selling price } }$$

Question

To calculate the cost when the selling price and percent of the markup are known, you would use the following forumla:
​ $$\operatorname { cost } = \frac { 100 \% + \text { percent of markup on cost } } { \text { selling price } }$$

Quizplus · Accepted Answer

The correct formula to calculate the cost when the selling price and percent of markup are known is: $$\operatorname { cost } = \frac { \text { selling price } } { 1 + \text { percent of markup on cost } }$$. The given formula incorrectly suggests division by the selling price and addition of percentages in the numerator.

To Calculate the Cost When the Selling Price and Percent cost⁡=100%+ percent of markup on cost selling price \operatorname { cost } = \frac { 100 \% + \text { percent of markup on cost } } { \text { selling price } }cost= selling price 100%+ percent of markup on cost ​

To Calculate the Cost When the Selling Price and Percent $\operatorname { cost } = \frac { 100 \% + \text { percent of markup on cost } } { \text { selling price } }$