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.
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