Formula Needed Please For Calculation

[Retrochic]

I have sold £1840 worth of product this month and have calculated £850 profit. I need to know what percentage profit I've made -can someone supply the calculation as I've glazed over -thanks!

[factor-fiction]

Was £1840 the cost price or the selling price?. If that was the cost price then the profit a s a% of cost price is 850 * 100/1840

[factor-fiction]

That gives 46.2%.
It's worth starting with rounded numbers to get a rough idea so you can check your actual answer looks sensible. If you had sold £2000 worth and made £1000 profit that would be 50%. So your 46.2% looks right

[Retrochic]

factor-fiction the £1840 is takings for the month -the £850 is the net profit after all inputs have been deducted from this figure . Basically I need to work out the profit as a percentage of the takings

[THEMOTLEY1]

46.2% then

[factor-fiction]

So your costs were £1840-£850 = £990
So work your profit out as a percentage of that. Use the formula I used above. It's roughly 850 out of 1000 so it's roughly 85%. I'll let you work it out exactly.

You can work either figure out- it depends what you want to show. Basically you are selling for nearly double what you pay

[dannyk13]

Formula is 850 multiplied by 100 divided b 1840 = 46.2%

[scorpiojo]

84.15%

[scorpiojo]

850 x 990 divided by 100?

[factor-fiction]

Both answers we've given are valid- it depends on what you are wanting to show- profit as a percentage of costs (mark up) or profit as a percentage of takings

[dannyk13]

To be precise it is 46.195652%

[Svejk]

its exploitation which ever way you look at it, well done. ;o)

[Retrochic]

Thanks factor- fiction it looks about right. I have a good idea of what things should be but have a mental block with mathematical forumulae. Thank you for taking time to reply x

[Retrochic]

svjek -LOL! I'm selling unnecessary things to well-heeled people who love to spend their money. I love to take it off them -I'm doing them a favour! x

[factor-fiction]

Hi dannyk- correct, but I think it's unlikely anything more than 1 or 2 decimal places is needed- and of course the figures quoted may have been rounded to the nearest pound so I think 1 decimal place is sufficient here

[Slapshot]

for future reference

Profit (total income - costs) x 100
------------------------------------- = % profit
total income

[Retrochic]

Thanks slapshot and everyone else whose answered, much appreciated.