Selling Price after a 30% Profit Margin is applied to an item that Cost $70

Given: Cost = $70,  Profit Margin = 30%
Profit Margin as a Decimal: 30% = 0.3
Formula:
Selling Price =  

Cost/ 1 – Profit Margin as a Decimal

Selling Price =  

$70/ 1 – 0.3

Selling Price =  

$70/ 0.7

Selling Price = $100
Notes:
Profit = Selling Price – Cost = $100 – $70 = $30
Markup Amount = Profit = $30
Markup Percentage =  

Markup Amount/ Cost

=  

$30/ $70

= 0.4286 = 42.86%