Selling Price after a 17.36% Profit Margin is applied to an item that Cost $20

Given: Cost = $20,  Profit Margin = 17.36%
Profit Margin as a Decimal: 17.36% = 0.1736
Formula:
Selling Price =  

Cost/ 1 – Profit Margin as a Decimal

Selling Price =  

$20/ 1 – 0.1736

Selling Price =  

$20/ 0.8264

Selling Price = $24.20
Notes:
Profit = Selling Price – Cost = $24.20 – $20 = $4.20
Markup Amount = Profit = $4.20
Markup Percentage =  

Markup Amount/ Cost

=  

$4.20/ $20

= 0.21 = 21%