#### Related Topics:

Question about Office Depot KS-1000 Calculator

# Determine Selling Price doesn't work

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.

Posted by on

• Anonymous Mar 25, 2014

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

×

### Ned Derickson

• Level 1:

An expert who has achieved level 1.

Mayor:

An expert whose answer got voted for 2 times.

• Contributor

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

### Anonymous

What is93.75/6.25

Posted on Dec 20, 2007

### Anonymous

• Level 1:

An expert who has achieved level 1.

• Contributor

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

### Anonymous

• Level 1:

An expert who has achieved level 1.

MVP:

An expert that got 5 achievements.

Governor:

An expert whose answer got voted for 20 times.

Hot-Shot:

An expert who has answered 20 questions.

• Contributor

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

Posted on Oct 02, 2006

×

my-video-file.mp4

×

## Related Questions:

### If the unit selling price is \$2.50 and the unit cost is \$1.00, what action is needed to maintain the gross margin percentage when unit cost increases .25

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

### When i turn on texas t1-82, there are bars all ofer the place and you can still type numbers ive tried everything please help!

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.

### A used car is sold by \$6600 at 40% off. how much is the original price?

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= 11 000
dollars

### I have a Casio MS-8TV calculator and want to change the VAT rate to 20% (usage in UK), please. Val

How do I program tax rate into my calculator?
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 I am having a problem registering the ClassPad 300, it keeps telling me my product key is wrong.
Enter only the numerals, not the letters.
^Top What features do our calculators have?
The attached chart shows comparisons of the different calculator models. This includes graphing, scientific and printing calculators. download the chart here
^Top What is the [F CUT 5/4] switch or [DEC] F, 0, 2 button for?
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 What is the [5,4,3,2,1,0 ADD (2)] switch used for?
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 Why do I get 111.1111... when I calculate 100+10%?
This is a markup on price procedure. The formula is as follows:
Markup%=(Markup Price-Cost)/(Markup Price)
^Top Why do I get the wrong answer when doing a percent calculation?
Make sure that you are following the correct procedure.
Adding 10%: 200 [×] 10 [%] [+]
Subtract 10%: 200 [×] 10 [%] [-]
^Top What tests are calculators permitted for?
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

### I must not understand what a margin is so could someone explain, the instructions give this example: If I purchase something for \$2000 and want to make a 20% profit I would need to sell it for \$2500 (2000...

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.

Nov 30, 2009 • Canon P23-DH Calculator

### Casio hs 8va Mark up key

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

### How do I use the Cost/Sell/Margin function on my Canon P100-DH 2 desktop printing calculator? Please for the love of god help me.

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.

### Instructions on How To Use a Calculator

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

803 views

Level 2 Expert

Level 3 Expert