How to make a formula to calculate Artist Profit / Gallery Commission Percent / Gallery Price

Question

How to make a formula to calculate Artist Profit / Gallery Commission Percent / Gallery Price

I'm selling paintings in a gallery. The gallery takes a 40% commission. I'm told to adjust my price so that I receive what I want after a commission is taken. How do I make a formula in iWork Numbers to calculate this equation:

Gallery Price 100

------------------- = ---------------

Profit for Artist 60

I want a spreadsheet that has a columns like this:

Profit for Artist | Gallery Commission % | Gallery Price

$1000.00 | 40% | $1666.00

I think those numbers are right.

Thanks

G5 PowerMac (Late 2005), Mac OS X (10.5.8), G4 iBook, iPod Mini, iPod Shuffle 1st Gen

Posted on Nov 28, 2012 5:28 PM

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Answer 1

Best reply

Badunit

Level 7

25,580 points

Nov 28, 2012 6:34 PM in response to Michael Stancato

Artist's profit = Gallery Price * 60%

therefore,

Gallery Price = Artists Profit / 60%

It is easier to explain when we use cell addresses so that's what I'll do:

The amount you want to receive (profit for artist) is in cell B2

The gallery price is calculated in cell C2 as =B2/60%

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Answer 2

Nov 28, 2012 7:52 PM in response to Badunit

Awesome! Thanks so much! For all those visual thinkers out there this is what I did thanks to Badunit.

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