If an item costs $1.00, and it is sold for $1.30, what is the profit margin?
I always thought it was (0.3/1.0) x 100 = 30%
But apparently it's (0.3/1.30) x 100 = 23%
Read the explanation here, and see if it makes any sense to you, because it confuses the hell out of me!
Disinfotainment: Profit Margin