Secondary School making 75% profit - help?

Hintza

OK Maths test time.

I reckon it is:- (120-37.8)/37.8 = 217% mark up

or £75 +/- mark up.

A 75% mark up would = £66.15

(The £30 reg fee is included in the £120)

OlliesDad

Hintza wrote: »

OK Maths test time.

I reckon it is:- (120-37.8)/37.8 = 217% mark up

or £75 +/- mark up.

A 75% mark up would = £66.15

(The £30 reg fee is included in the £120)

That is correct if we are talking mark ups.. however in terms of profit margin the previous posters are correct.

bod1467

Profit is always calculated based on the Sell price.

( (Sell - Cost) / Sell ) x 100 = Profit (Gross) Margin in %

angelil

ThumbRemote wrote: »

It's an international GCSE. It's different, but not sure how.

They're designed for international schools, so bear in mind that candidates may only be in a school for one year. Because of this, coursework is often only an optional element, with candidates taking other exam papers within a single exam session, in lieu of coursework done over several months/across two academic years. They are not modular. This means they have acquired the reputation of being more rigorous than 'normal' GCSEs.

[Deleted User]

There is a lot of additional work involved in making an entry for an external candidate. The school's MIS will already have all the details for the school's students, yours will have to be manually entered. The school will have to allocate you a candidate number and chase up your UCI number before they can make your entry. Then they will have to verify your ID and produce an exam card. They will need to keep paper copies of your entry information, post out your timetable and a copy of the regulations and make arrangements for you to be met and escorted to the exam hall on the day(s) of the exam.
After the exam they will have to print out your results sheet and post it to you. Later they will receive your certificate and process that and post it out to you. Along the way there may be issues about your entry which someone will have to deal with, phone calls from you or your parents etc. The school is paying someone to do that work - why should you get it for free?

The deadline for entries has not yet passed. If you want to withdraw you probably still can. Ask the school to withdraw your entry and refund your fee if you don't want to pay it. They may still take an admin fee though. You can't make them let you enter for the price you want to pay though so it's your call

SuperHan

MamaMoo wrote: »

Unless they are including the reg fee too, in which case it would be
((150-37.80)/150)*100 = 74.8%, or 75% rounded up

120 included the registration fee

And the OP didn't mention profit margins, they said they didn't want to pay an extra 75%, which would indicate mark up not profit margin

Assuming we're working on 37.50 exam fee and £30 registration fee, and the OP paying £120, they are paying an additional £52.50 than initially detailed, around 77% extra [52.5/(37.5+30)]. Round to the nearest 5, 75% ;) (sorry, the accountant in me can't resist sometimes....)

phill99

You're both wrong. It's a 157% mark up.

Most major retailers work to a 300 - 400% mark up, so 157% is very low.

wealdroam

phill99 wrote: »

Most major retailers work to a 300 - 400% mark up, so 157% is very low.

Ah... so now all we need to do is decide whether this secondary school is a major retailer or not.

McKneff

wearethedogs wrote: »

why shouldn't you pay a contribution towards the heating, lighting, maintenance of building and facilities, administrator's wages, invigilator's wages, upkeep of car park, security etc. ? Or should the tax payer pay for all of this so you can use it ?

:t:t.............................. Excellent post.

tomwakefield

If you've agreed £120, it makes not a jot of difference whether the school have paid £1 or £119.99. You clearly considered it was worth £120 to you.