Unit cost of a product is $3 and the sale to customer price is $10 what is the profit margin as a %?

unit cost of a product is $3 and the sale to customer price is $10 what is the profit margin as a %?
tomh932
Asked Aug 20, 2013
Gross Profit Margin = Gross Profit ÷ Revenue

Gross Profit Margin = (Revenue - Sales Cost/Cost of Goods Sold) ÷ Revenue
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Let's say that your revenue is hmm......$100 as in you sold 10 of your product. It'd be (100-(3*10)) ÷ 100 = 70%

Hope I helped ^_^
JoeAvrigado
Answered Aug 20, 2013
When a product that cost $3 is sold for $10, the percentage of sale price that is cost = Cost/Sale Price

The percentage of sales price that is profit = 1-(Cost/Sale Price)
Rob
Answered Aug 20, 2013

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