Exercises in Retail Maths 2: Quick mental Conversion of Markup% to Margin% and Vice Versa

We know now the concept of Markup and Margin ( Refer to the Post here)

To understand how can we quickly and mentally convert markup% to margin% and vice versa, here is a suggested framework.

Step 1: Remember this table of conversion of fraction to percentage:

\(\large \frac{1}{1}\) = 100%

\(\large \frac{1}{2}\) = 50%

\(\large \frac{1}{3}\) = 33.33%

\(\large \frac{1}{4}\) = 25%

\(\large \frac{1}{5}\) = 20%

\(\large \frac{1}{6}\) = 16.66%

\(\large \frac{1}{7}\) = 17.28%

\(\large \frac{1}{8}\) = 12.5%

\(\large \frac{1}{9}\) = 11.11%

\(\large \frac{1}{10}\) = 10%

\(\large \frac{1}{11}\) = 9.09%

\(\large \frac{1}{12}\) = 8.33%

\(\large \frac{1}{13}\) = 7.69%

Step 2: Make use of one of the Rules to convert

Rule 1: To convert Markup% to Margin% divide the Numerator of fraction obtained from Markup% by the (Addition of Numerator & Denominator of the fraction )

Example: Convert 50% Markup  to Margin %

Answer: 

50% Markup is equivalent to 50/100 in fraction 

So divide 50 by 50+100

\(\large \frac{50}{50+100}\) = \(\large \frac{50}{150}\)= \(\large \frac{1}{3}\)= 33.33% ( From Table above)

So 50% Markup is equivalent to 33.33% Margin. 

Rule 1: To convert Margin% to Markup% divide the Numerator of fraction obtained from Margin% by the (Denominator-Numerator)

Example: Convert 50% Margin to Markup %

Answer: 

50% Margin is equivalent to 50/100 in fraction 

So divide 50 by 100-50

\(\large \frac{50}{100-50}\) = \(\large \frac{50}{50}\)= \(\large \frac{1}{1}\)= 100% (From Table above)

So 50% Margin is equivalent to 100% Markup

Exercises ( Try to Do Mentally- If you Cram the table above, it will be very easy for you):

1. Convert 40% Markup to Margin%
2. Convert 25% Margin to Markup%
3. Convert 60% Markup to Margin%
4. Convert 33.33% Margin to Markup%
5. Convert 75% Markup to Margin%
6. Convert 20% Margin to Markup%
7. Convert 100% Markup to Margin%
8. Convert 16.66% Margin to Markup%
9. Convert 30% Markup to Margin%
10. Convert 12.5% Margin to Markup%