calcuting what an extra 30% is???

[Ace Modder]

Hi

When you want to work a 30% increase of a set number..... how do you do it?

For example if I take £50 and I want to add 30% would you use the calculation £50 * 1.3 = £65
Or would you use £50 / 0.70 = £71.42?

I'm discussing this currently and I'm claiming the 2nd option is incorrect, as the first number is the fixed number and we are adding 30% on. The first option is right as that is 30% added on, the 2nd option is not adding 30% extra on.


Who is correct?

 

[G-MAN2004]

No idea why, but I've always just done 50 x 30% = 15

So £65

 

[Van_Dammesque]

You are, to prove it to them use £100 as the initial example.

 

[ubern00b]

% means over 100 so 50 x 30 / 100 = 15 so 65 is correct.

 

[Ace Modder]

if you have a total price of £130 and you want to work out the margin if the cost is £100 then the margin is not 30% (it is 23%) , but the mark up is 30%.

Mark up is the correct term for adding 30% onto the initial figure.

 

[Mason-]

Hi

When you want to work a 30% increase of a set number..... how do you do it?

For example if I take £50 and I want to add 30% would you use the calculation £50 * 1.3 = £65
Or would you use £50 / 0.70 = £71.42?

I'm discussing this currently and I'm claiming the 2nd option is incorrect, as the first number is the fixed number and we are adding 30% on. The first option is right as that is 30% added on, the 2nd option is not adding 30% extra on.


Who is correct?

You are correct.

The second answer would be the solution to the question: What number is £50 30% less than?

 

[adolf hamster]

first option is correct, think of it like this:

50*0.3=15 so that's 30% of 50, so add that on to your original 50

 

[Hotwired]

I find the second option bizzare...

 

[Ace Modder]

I find the second option bizzare...

Thats the way to work out margin you see....

 

[Randomface74]

To increase £50 by 30%
The correct answer is £50 * 1.3 = £65

 

[Maccapacca]

=SUM(A1)/100*130

 

[squerble]

As many people have already say, just multiply by 1.3. Multiply by 1 = 100%, so any increase is added to the one: 30% is 0.3 so to increase a value by 30% (in essence, getting 130% of the original number) we times by 1.3.

Same can be said for adding VAT (@20%), just times by 1.2

 

[Diddums]

As many people have already say, just multiply by 1.3. Multiply by 1 = 100%, so any increase is added to the one: 30% is 0.3 so to increase a value by 30% (in essence, getting 130% of the original number) we times by 1.3.

Same can be said for adding VAT (@20%), just times by 1.2

This, dunno why people make things unnecessarily complicated (although I have a suspicion I'm going to find out in my degree soon).

 

[Ace Modder]

As many people have already say, just multiply by 1.3. Multiply by 1 = 100%, so any increase is added to the one: 30% is 0.3 so to increase a value by 30% (in essence, getting 130% of the original number) we times by 1.3.

Same can be said for adding VAT (@20%), just times by 1.2

Yes, VAT is the exact example i gave before posting here to be able to confirm I was indeed correct

 

[Kenai]

Dividing by 0.7 would be the method to find out what your start point was if you had removed 30% to reach £50.

 

[Ace Modder]

oh I won this battle, my counterpart has admitted defeat.

Ace Modder reins victorious.

 

[d_brennen]

Is this how OCUK works out it's margins?

 

[cainer]

oh I won this battle, my counterpart has admitted defeat.

Ace Modder reins victorious.

 

[Ace Modder]

ocuk margin is worked out via =(Sell price/cost price)/sell price = %

So £150 item costing £100 has a margin of 33.333% not 50%

That is how margin works though. Mark up is the *1.50 rate though.

 

[Randomface74]

lol well done