Using percentages incorrectly

[Some Gump]

TwigtheWonderkid said:

Some Gump said:

To refer to a markup of 100% isn't a common nomenclature thing, it's just wrong - plain wrong.

No it isn't. A mark up of 100%, or more, is absolutely fine. It's when people talk about a profit of 100% on something they paid for in the first place that they have, in my view, got it wrong.

Lol, you know exactly what i meant. Mark up of 100% =/= profit of 100%.

[Some Gump]

Speedy11 said:

You use kilos incorrectly, you know your using it is wrong but you will still use it wrong on an ongoing basis. Other people use the term profit incorrectly even though some of them know its wrong for the same reason as you will still use kilos incorrectly. Nobody out side of physics cares about the difference between mass and weights, nobody out side of accounting cares about the difference between profit/markup etc

Alright smart arse, go down to sainsburys and buy 9.8 newtons of spuds, will you? Ciurse not. Weight and mass are interchangable for most people because we're all living on planet earth, and so until that changes, they're effectively the same thing within the confines of the discussion.

Everyone should be aware of profit - because everone either works for someone, runs a business, or has investments linked to businesses. It's not simply an accountency term, it's a "use it every day" term. You know this, but you're being pedantic. As i said, we're not talking about 2 different terms for the same thing, we are talking about people using the wrong terms for 2 entirely different concepts.

[TwigtheWonderkid]

Some Gump said:

TwigtheWonderkid said:

Some Gump said:

To refer to a markup of 100% isn't a common nomenclature thing, it's just wrong - plain wrong.

No it isn't. A mark up of 100%, or more, is absolutely fine. It's when people talk about a profit of 100% on something they paid for in the first place that they have, in my view, got it wrong.

Lol, you know exactly what i meant. Mark up of 100% =/= profit of 100%.

OK, I'm with you now, I think we're both on the same side of this argument. You can have a mark up of whatever you can get away with, but unless the product was free to you in the first place, you cannot make 100% profit. Mark up and profit and two entirely different things but many talk of profit when they mean mark up.