I'm a salesperson that calculates cost + markup = selling price all the time. I bought this calculator because this function was included. The instructions on the back say to punch in 29.24 CST (under the SEL row) and then 20 MAR (for the 20% margin or markup), which the box says should equal $36.55. HOWEVER: Cost: 29.24 Margin / markup: 20% = 5.848 Sell: 29.24 + 5.848 = 35.088 What gives? Obviously something is programmed wrong or the instructions are somehow wrong.

Ad

The computer is not broken and is correct saying what the sales price is. If you work backwards from selling price and take 20% off, then you get 29.24. The program is a generally accepted accounting principle (GAAP) that has markup not from cost, but from retail. You have been doing it wrong all these years and have been giving your customers a better deal. Play with the numbers and you will see what I mean.

Posted on Oct 26, 2006

Ad

What is93.75/6.25

Posted on Dec 20, 2007

Ad

A 20% "markup" is actually an increase of 25%. Clubned is correct, you are not adding 20% to your cost. A 20% markup treats your cost as a 20% reduction from your marked up price. 25% of 29.24 is 7.31 29.24 + 7.31 is 36.55 20% of 36.55 is 7.31 The calculator and instructions are correct. It's doing a financial calculation.

Posted on Feb 08, 2007

BethLeg, I believe 29.24 + 5.848 is really 35.088. There is a mistake on the box!

Posted on Oct 02, 2006

Hi there,

Save hours of searching online or wasting money on unnecessary repairs by talking to a 6YA Expert who can help you resolve this issue over the phone in a minute or two.

Best thing about this new service is that you are never placed on hold and get to talk to real repairmen in the US.

Here's a link to this great service

Good luck!

Posted on Jan 02, 2017

Hi,

Let's set up a table to see it (sorry, I'm a visual learner;)

Selling Price $2.50 x

Unit Cost $1.00 $1.25

-------

Gross Profit $1.50 x - 1.25

Gross Margin 60% 60%

Time for some algebra;)

x - 1.25 0.6

---------- = -------

x 1

Now we can cross-multiply or multiply both sides by x to get rid of the fraction.

x - 1.25 = 0.6 x

Subtract 0.6x from both sides and add 1.25 to both sides to get the variables on one side and the constants on the other.

x - 0.6 x = 1.25

0.4x = 1.25

Divide both sides by 0.4 to get x by itself.

x= 1.25

------

0.4

x= 3.125

Good luck.

Paul

Let's set up a table to see it (sorry, I'm a visual learner;)

Selling Price $2.50 x

Unit Cost $1.00 $1.25

-------

Gross Profit $1.50 x - 1.25

Gross Margin 60% 60%

Time for some algebra;)

x - 1.25 0.6

---------- = -------

x 1

Now we can cross-multiply or multiply both sides by x to get rid of the fraction.

x - 1.25 = 0.6 x

Subtract 0.6x from both sides and add 1.25 to both sides to get the variables on one side and the constants on the other.

x - 0.6 x = 1.25

0.4x = 1.25

Divide both sides by 0.4 to get x by itself.

x= 1.25

------

0.4

x= 3.125

Good luck.

Paul

Feb 12, 2015 | Office Equipment & Supplies

It may just be that the calculator is too old and some of its hardware is no longer in top shape. It may be time to get another one. TI has a very beautiful calculator the TI Nspire CAS that display 65000 colors. Casio too has a color calculator the Prizm. The prices are not too high compared to the selling price of the old TI83Plus.

Apr 07, 2012 | Texas Instruments TI-82 Calculator

The keyword is 40% OFF.That means the price you paid is only 100%-40%=60% of the full price.

Let x be that full price.

Then 60% of x is .6*x, and it is equal to 6600

The equation is .6*x=6600 and

x=6600/.6= 11 000dollars

Let x be that full price.

Then 60% of x is .6*x, and it is equal to 6600

The equation is .6*x=6600 and

x=6600/.6= 11 000

Sep 09, 2011 | Office Equipment & Supplies

Non-printing models (also applies to HR-8TE printing calculator):

1. Press [AC]

2. Hold [SET/%] key for about 2 seconds

3. Press [TAX+]

4. Input the tax rate

5. Press [SET/%]

Printing models (except HR-8TE):

1. Have calculator in "print" mode

2. Press [CA]

3. Hold [SET/%] key for about 3 seconds

4. Input the tax rate

5. Press [TAX+]

6. Press [SET/%]

^Top

Enter only the numerals, not the letters.

^Top

The attached chart shows comparisons of the different calculator models. This includes graphing, scientific and printing calculators. download the chart here

^Top

The HR-8TE/HR-8TM have a [DEC] key with F, 0, 2, and 5/4 over it, while many other calculators models have a switch labeled [F CUT 5/4].

The button or switch can control rounding off to a certain number of decimal places. F is floating point (no F indicator on screen), 0 rounds off to 0 places after decimal point, and 2 rounds off to 2 places after decimal point.

The 5/4 applies to either the 0 or 2 modes, and describes the type of rounding off that is performed. The calculator will round down if the digit after the one you are rounding to is 4 or lower, and round up if the digit is 5 or higher.

^Top

This switch is used to determine how many decimal places your answer is displayed in.

ADD (2) is often used for monetary calculations, so that it is not necessary to enter the decimal point. It is automatically placed two decimal places from the end for cents. For example, entering 123 will display as 1.23.

^Top

This is a markup on price procedure. The formula is as follows:

Markup%=(Markup Price-Cost)/(Markup Price)

^Top

Make sure that you are following the correct procedure.

Adding 10%: 200 [×] 10 [%] [+]

Subtract 10%: 200 [×] 10 [%] [-]

^Top

AP Calculus requires a graphing calculator.

Any graphing or scientific calculator is permitted on the following as long as it does not have a QWERTY keyboard, electronic writing pad or a pen-input/stylus-driven interface:

PSAT/NMSQT, SAT I

SAT II Math, IC & IIC

AP Statistics (graphing expected)

AP Chemistry

AP Physics

May 27, 2011 | Casio Parts Cash Register PC Desktop

Hi,

I think you should refer to you definitions. The 20% is called the markup. The profit margin is calculated with respect to the revenue. So you should divide the 400$ by 2400$ to get a net profit margin of 400/2400 =0.1667 or 16.67% (And we are not taking into account the taxes).

Margin = Markup /(price + Markup)

Markup = Margin* (Price +Markup)

Markup = Margin*Markup + Margin* Price

Markup*(1-Margin) =Margin*Price

Markup = Margin*Price/( 1-Margin)

For Price =2000, Margin =0.2 (that is 20%)

Markup = 0.2*2000(1-0.8) =0.2*2000/0.8

Markup = 2000*(0.2/0.8)= 2000*0.25 = 500

Thus to have a (net) profit margin of 20%, an item costing 2000$ must be marked up by 500$.

Try not to reason with numbers. Write the defining relation and use algebra to isolate for the variable you seek.

Hope it helps.

Thank you for using Fixya and for rating this solution.

I think you should refer to you definitions. The 20% is called the markup. The profit margin is calculated with respect to the revenue. So you should divide the 400$ by 2400$ to get a net profit margin of 400/2400 =0.1667 or 16.67% (And we are not taking into account the taxes).

Margin = Markup /(price + Markup)

Markup = Margin* (Price +Markup)

Markup = Margin*Markup + Margin* Price

Markup*(1-Margin) =Margin*Price

Markup = Margin*Price/( 1-Margin)

For Price =2000, Margin =0.2 (that is 20%)

Markup = 0.2*2000(1-0.8) =0.2*2000/0.8

Markup = 2000*(0.2/0.8)= 2000*0.25 = 500

Thus to have a (net) profit margin of 20%, an item costing 2000$ must be marked up by 500$.

Try not to reason with numbers. Write the defining relation and use algebra to isolate for the variable you seek.

Hope it helps.

Thank you for using Fixya and for rating this solution.

Nov 30, 2009 | Canon P23-DH Calculator

Hold the % key till the set letters come up, then press TAX + , then type in your new rate then press the % key again to set the rate. hope this helps.

Jun 16, 2008 | Casio HS-8V Calculator

Cost/Sell / Margin can be very confusing it uses the following Account formulas (For Cost = Selling price - ( Selling price / Markup) For Sell = Selling Price =Cost / (1-Margin%))

It is not a pure percentage. Please respond back if you have any other questions.

It is not a pure percentage. Please respond back if you have any other questions.

Apr 22, 2008 | Office Equipment & Supplies

Ok I looked for ages for how these keys work and once you knwo how it is quite simple.

say something costs 100, enter 100 then press the cost button

say you want a margin of 25% then enter 25% and press the mgn button the result is the selling price 133.33

So to reverse it enter 133.33 press the sell button

Enter 25% and press the mgn button

result is 99.99 cost price (100) bar a cent/penny

and finally to work out margin

enter 100 press cost button

enter 133.33 press sell button

result is 24.99 which is the percentage margin

Simple isn't it

say something costs 100, enter 100 then press the cost button

say you want a margin of 25% then enter 25% and press the mgn button the result is the selling price 133.33

So to reverse it enter 133.33 press the sell button

Enter 25% and press the mgn button

result is 99.99 cost price (100) bar a cent/penny

and finally to work out margin

enter 100 press cost button

enter 133.33 press sell button

result is 24.99 which is the percentage margin

Simple isn't it

Oct 18, 2007 | Office Equipment & Supplies

Oct 31, 2013 | Office Depot KS-1000 Calculator

753 people viewed this question

Usually answered in minutes!

this is a top up on a rough training on how to cost for your time and price your product the right way for crafters/artisans

×