Forum Discussion
Find price "X" from a discounted and marked up Total Cost
Task: cataloging receipts from expenditures.
Have receipts with multiple items listed. The subtotal has been discounted from the original retail price by 10%. That discounted subtotal is then marked up by 7% (tax).
Would like to make only one numeric entry (the amount paid) and have formulas in adjacent columns display the amount of the 10% discount of the original price and the amount of the 7% markup of the original price (not the discounted subtotal).
Hello,
are you struggling with the Excel formulas to use or are you asking about the underlying maths to calculate the result? In Excel you can use the regular operators for addition (+), subtraction (-), multiplication (*) and division (/), so use the same approach you would use when calculating by hand.
I'm not quite clear what that result should be, so it would help if you could post a data sample, fill in the desired result manually and explain in context.
- I'm looking for a formula... the issue is trying to input only the Total (which has been discounted 10% and the result marked up 7%) and expressing the discount amount of the retail price.
I've put together a data sample and some formulas.
The highlighted cells have the range names "discount", "markup" and "total", respectively.
The formulas are
Net before markup:
=total/(1+markup) Discount amount (where E11 is "Net before markup)"
=(E11/(1-discount))*discount Original markup (where F11 is "Discount amount")
=(E11+F11)*markup let me know if that helps.
- Yes, as I suspected, it looks like I will need to handle the discount and markup total separately. It's a nice challenge. I'll work on it later and reply with my thoughts for a solution. Thanks.
