Formula

[don]

I know that an item that retails for $30,950 has a 54%
markup from the original cost. How do I figure out the
original cost?

Don

 

[Vasant Nanavati]

Logic:

$30,950 = cost*1.54

Therefore:

Cost = 30,950/1.54

So the formula would be:

=30950/(1+0.54)

or more generally:

Cost = Retail/(1+MarkupPercentage)