Trade Maths & Profitability - Some Questions
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1. If the selling price is reduced by 5.3% then the profit will reduce by 5.3%
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Agree
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Disagree
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Depends
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Not sure
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2. The Cost of Goods Sold / Cost of Sales percentage is calculated on the sales/revenue generated
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Agree
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Disagree
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Depends
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Not sure
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3. If the Gross Margin moves from 43.12% to 47.32% the percentage increase is 4.20%
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Agree
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Disagree
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Depends
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Not sure
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4. Percentage Mark up is calculated as a percentage of the buy price
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Agree
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Disagree
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Depends
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Not sure
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5. Percentage Margin is calculated as a percentage of the buy price
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Agree
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Disagree
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Depends
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Not sure
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6. To determine the margin percentage, it does not matter whether the buy and sell prices include or exclude GST provided it is the same (include or exclude GST) for both figures.
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Agree
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Disagree
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Depends
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Not sure
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7. If 48.75% has been added to the buy figure to reach the sell price, then taking the 48.75% off the sell price will get back to the buy/wholesale price. (i.e. 48.75% on is 48.75% off)
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Agree
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Disagree
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Depends
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Not sure
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8. Retailer wants to make a mark up of 112.50% Calculate:
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Mark up %
112.50%
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Margin %
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Depends
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Not sure
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9. Retailer wants to make a margin of 32.50% Calculate:
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Mark up %
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Margin %
32.50%
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Depends
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Not sure
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10. Retailer buys for $19.06 and sells for $28.45 Calculate:
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$ Difference
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% Mark up
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% Margin
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Not sure
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11. The Retailer wishes to make a margin of 38.40% on a product which will be sold for $55.95. Calculate:
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$ Buy Price
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$ Profit
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% Mark up
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Not sure
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12. The Retailer will buy the product for $9.06 and wants to make a Margin of 35.50% Calculate:
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$ Sell Price
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$ Margin
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% Mark up
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Not sure
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