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

Given: Cost = $30,  Profit Margin = 70%
Profit Margin as a Decimal: 70% = 0.7
Formula:
Selling Price =  

Cost/ 1 – Profit Margin as a Decimal

Selling Price =  

$30/ 1 – 0.7

Selling Price =  

$30/ 0.3

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

Markup Amount/ Cost

=  

$70/ $30

= 2.3333 = 233.33%