Follow these simple steps to calculate your selling price:

1. Enter your Cost Price - the amount you paid for the product
2. Enter your desired Markup Percentage - how much you want to add on top of your cost
3. Click the Calculate button to see your results

The calculator will instantly show you:

• The Markup Amount in dollars
• The final Selling Price you should charge
• Your Profit Margin percentage

Markup is the percentage added to the cost price to determine the selling price. It's calculated as: (Selling Price - Cost) / Cost × 100%. According to Investopedia, markup is commonly used in retail and business pricing strategies to ensure profitability.

Profit Margin is the percentage of the selling price that is profit. It's calculated as: (Selling Price - Cost) / Selling Price × 100%.

For example, a product that costs $100 with a 50% markup would sell for $150, giving you a profit margin of 33.33%.