Cost of an item given Selling Price of $52.16 and a 63% Markup on Cost

Given: Selling Price = $52.16,  Markup = 63%
Markup as a Decimal: 63% = 0.63
Formula:
Cost =  

Selling Price/ 1 + Markup as a Decimal

Cost =  

$52.16/ 1 + 0.63

Cost =  

$52.16/ 1.63

Cost = $32
Notes:
Markup Amount = Selling Price – Cost = $52.16 – $32 = $20.16
Profit = Markup Amount = $20.16
Profit Margin =  

Profit/ Selling Price

=  

$20.16/ $52.16

= 0.3865 = 38.65%