Cost of an item given Selling Price of $800 and a 33.333% Markup on Cost

Given: Selling Price = $800,  Markup = 33.333%
Markup as a Decimal: 33.333% = 0.33333
Formula:
Cost =  

Selling Price/ 1 + Markup as a Decimal

Cost =  

$800/ 1 + 0.33333

Cost =  

$800/ 1.33333

Cost = $600
Notes:
Markup Amount = Selling Price – Cost = $800 – $600 = $200
Profit = Markup Amount = $200
Profit Margin =  

Profit/ Selling Price

=  

$200/ $800

= 0.25 = 25%