general function inquiry

[danieller1104]

I am trying to use Excel to assist in identifying the retail price of a product needed based on the desired profit margin. example;

For example; last year the cost of item 'x' was 15.30, it sold for 33.99 making profit margin 55% [using the formula (retail-cost)/retail= profit margin].

The current cost has increased to 15.92 which in turn decreased my margin to 53%.

I want margin back at 55% so I want Excel to find the new required retail price. I can manually solve the equation backwards (which would make my required retail 35.40 in this example) but I have 2400+ items that I need to calculate.

Any suggestions would be greatly appreciated!!

[Beamer]

If you Cost Price is in cell A2 and your Profit Margin is in cell B2, then try:-

=A2/(1-B2)

i.e. Cost/(1-Margin) or 15.92/(1-55%) or 15.92/45%