Selling Price after a 12% Markup is applied to an item that Cost $1,150

Given: Cost = $1,150,  Markup = 12%
Markup as a Decimal: 12% = 0.12
Formula:
Selling Price = Cost * (1 + Markup as a Decimal)
Selling Price = $1,150 * (1 + 0.12)
Selling Price = $1,150 * 1.12
Selling Price = $1,288
Notes:
Markup Amount = Selling Price – Cost = $1,288 – $1,150 = $138
Profit = Markup Amount = $138
Profit Margin =   =   = 0.1071 = 10.71%