Calculating the selling price with a markup is a key practice in business. It involves working out the final cost of a product or service, based on the base cost as well as any applicable taxes or additional costs. It’s important to know how to determine the right selling price with markup in order to ensure that your pricing structure is profitable but also competitive. At its core, markup calculation takes the base cost and increases it by a certain percentage (also referred to as a rate of mark-up) in order to determine a selling price that enables sellers to turn a profit while still being attractive to potential customers. If done correctly, calculating the selling price with markup can help businesses optimize their profits and save money in the long run.