how to increase any number by £1

[ash786x]

Hi Everyone

Please could you help me with a multiplication formula that will increase any number by £1
For example a pair of shoes cost £1.50
and I need to sell them for £2.50
I tried to multiply £1.50 by 1.67 which gave me £2.50.5
I tried 1.67 with other numbers but it didnt work
Is there a formula that could work that will more or less add a value of £1 to any original number?
Thank you for your help!

 

[Mr. Bland]

Let's say the initial price is [MATH]p[/MATH] and you need to multiply it by some amount [MATH]m[/MATH] such that the result is £1 more than you started with. That looks something like this:

[MATH]pm = p + 1[/MATH]​

Solve for [MATH]m[/MATH] and you'll have the multiplier you need. Do bear in mind that the multiplier will be different for every starting price.

 

[Steven G]

Why not just add 1?
If the initial price is p, then let p become p+1.

 

[ash786x]

Thank you Mr Bland for your thoughtful answer. It is much appreciated.
And Jomo the software I am using only allows a multiplication data box. But thanks anyway guys.

 

[pka]

Let's use the notation: \(Np\) stands for New price and \(Op\) stands for old price.
The ratio \(\large\dfrac{Np-Op}{Op}\) equals the fractional change in price of an item
Suppose some item cost 6.4 pounds but sells for 9 pounds. What is the mark-up?
Well here goes: \(Np=9~\&~Op=6.4\). \(\dfrac{9-6.4}{6.4}=0.40625\). That is \(40.625\%\) markup.
Now suppose that an item sells for \(20.7\) pounds and is put on sale for 16.5 pounds.
What is the mark-down? \(Op=20.7~\&~Np=16.5\)
Then \(\dfrac{16.5-20.7}{20.7} \approx -0.2029\)
Note the negative sign. That means a markdown of \(20.29\%\).

 

[Dr.Peterson]

Thank you Mr Bland for your thoughtful answer. It is much appreciated.
And Jomo the software I am using only allows a multiplication data box. But thanks anyway guys.

This is the sort of information you have to provide if you want a useful answer! Context can be extremely important in explaining what you need help with. The correct answer to "a multiplication formula that will increase any number by £1" is that there is no such formula. But what Mr Bland suggested is a way to find a number by which a particular number can be multiplied in order to increase it by 1, which may be what you need.

Please could you help me with a multiplication formula that will increase any number by £1
For example a pair of shoes cost £1.50
and I need to sell them for £2.50
I tried to multiply £1.50 by 1.67 which gave me £2.50.5
I tried 1.67 with other numbers but it didnt work
Is there a formula that could work that will more or less add a value of £1 to any original number?

To take your example, to change 1.50 to 2.50, you multiply by [MATH]2.50\div1.50 = 1 \frac{2}{3} = 1.6666...[/MATH] . If you have to enter a rounded number, such as 1.6667, then you can't get an exact result, but you can get closer by using more digits.

Now, if you told us what your software is and what you are trying to do, we might be able to help a lot more. For example, does the box restrict the number of digits you can enter?

 

[HallsofIvy]

Thank you Mr Bland for your thoughtful answer. It is much appreciated.
And Jomo the software I am using only allows a multiplication data box. But thanks anyway guys.

That's crummy software!