Whats the cost when: retail = cost + 10%

Bob58

New member
Joined
Jun 14, 2007
Messages
1
I'm new. Thanks for your patience. I need to know the formula for calculating the cost of an item. What i know is: Retail = Cost + 10%.
Example: Cost + 10% = 92.40.
I'm sure the formula is simple, but i graduated high school in 1972 and havent needed to know these types of formulas since.
Thank you
Bob
 

jwpaine

Full Member
Joined
Mar 10, 2007
Messages
723
Bob58 said:
I'm new. Thanks for your patience. I need to know the formula for calculating the cost of an item. What i know is: Retail = Cost + 10%.
Example: Cost + 10% = 92.40.
I'm sure the formula is simple, but i graduated high school in 1972 and havent needed to know these types of formulas since.
Thank you
Bob
I just had my wisdom teeth taken out, so I'm a little loopy right now.

10% of what? 10% of cost?

if so, then:

C + 0.1C = 92.40

1.1C = 92.40

1.1C/1.1 = 92.40/1.1

C = 84


See?

John.
 

Denis

Senior Member
Joined
Feb 17, 2004
Messages
1,489
Cost = retail / (1 + rate)

Cost = 92.40 / (1 + .10) = 92.40 / 1.10 = 84
 
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