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Well this is embarrassing, but if I'm aiming to sell a product for e.g. 30% Gross Profit, how do you calculate the markup percentage for it (e.g. 43%), in plain excel formula, taking the GP as an input.

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You want to sell the item for $x.

The item costs you $20.

The difference between $x and $20 is your gross Profit and you want that to be 30% of the sale price.

(x-20)/x = 0.3  
   x-20  = x*0.3
   x-20  = 0.3X
   0.7x  = 20
      x  = 20/0.7
      x  = $28.57

so divide the cost of the item by (1-GP), here, 0.7 or multiply by 1.42857

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