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Target Price Calculator

Formula

The formula to calculate the Target Price (TP) is:

$TP = \frac{IC}{1 - \frac{TM}{100}}$

Where:

Target Price (TP): The price at which an item should be sold to achieve a specific profit margin.
Item Cost (IC): The cost of the item.
Target Margin (TM): The desired profit margin as a percentage.

Let's say the Item Cost (IC) is $50 and the Target Margin (TM) is 20%. Using the formula:

$TP = \frac{50}{1 - \frac{20}{100}}$

We get:

$TP = \frac{50}{0.8} = 62.50$

So, the Target Price is $62.50.