Percentage Math


Since percentage Math (%) is found in a majority of pharmacy calculations, it's vital that you know how it works. The most important thing to remember is what the word "percent" means.

Per
   
Cent
of each
   
Hundred




On a
calculator:
Question: What percentage of 82 is 37?

37 ÷ 82 = .45

.45 = 45%


(The first two numbers after the decimal will be your %)




Here's some example questions to put this into perspective:

Mrs. Dash weights   100 Lbs
  What percent of her weight
does her family weight?
1)Her daughter weights 55 lbs                                 %
2)Her 1st son weights 105 lbs                                 %
3)Her 2nd son weights 100 lbs                                 %
4)Her husband weights 200 lbs                                 %
5)Her cat weights  12 lbs                                 %
6)Her Pug weights    7 lbs                                 %
       1)55  2)105  3)100  4)200  5)12  6)7




Markup Percentage Math is a little different:

Markup is the
percentage over the wholesale price of a product and represents the profit made on that product. So, on a calculator, you will always have a number before the decimal. To get the markup, you always subtract 1.0 from your answer. (since the first 100% is the wholesale price)

Let's say you run into a question that asks:

What is the markup percent on a blood pressure monitor that retails for $79.99 and your store pays a wholesale price of $41.00?

79.99 ÷ 41.00 = 1.95

Subtract 1.0 from the answer

= .95 or 95%


- What some people like to do is first determine the amount over the wholesale price that the retail price is. That difference is the amount of profit made on the product. Then, they will take that and divide it by the wholesale price. For many, this helps keep everything more straight in their head.

Let's try another question that asks:

What is the markup percent on a monitor that retails for $90 and your store pays a wholesale price of $30.00?

90.00 ÷ 30.00 = 3.00

Subtract 1.0 from the answer

= 2.00 or 200%


- When you get a number before the decimal, then your answer will be over 100%, as in this example.




Many emails have been sent about this math problem
on Quiz #5, Question #3:





Your retail pharmacy sells products at:
45% markup over wholesale + a set dispensing fee of $4.

A customer brings in a script for: Vardenafil 5mg #10.
The total retail cost at pickup for the 10 tablets is $149.00.
What is your pharmacy's wholesale cost per/each tablet ?

A. $14.50

B. $10.00

C. $18.85

D. $14.90


Here is the easiest way to calculate this:

1) First, take the $149.00 and back out the $4.00 dispensing fee.
      That leaves you
$145.00 (retail)

2) So now we have 145.00 (retail) and we know
      (since they told us in the question)
     we charge
45% markup over wholesale.

3) To back out 45% from 145.00, you divide 145 by 1.45

     
145 ÷ 1.45 = 100

4) With the markup now backed out, that tells us that the
     
wholesale price for 10 tabs = $100

5) Which means each tab's wholesale price is $10.00



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