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Set wholesale prices from cost and a margin target
- For Small business owners
- You practice Catching mistakes and made-up facts
- Time about 5 minutes
- Level Intermediate
About this exercise
Cafe Linden asked for wholesale prices. Price each item so the margin is 40 percent of the wholesale price, meaning price = cost / 0.6, rounded up to the next cent. Write a markdown table with columns Item, Cost, Math, Wholesale price, with prices as plain numbers with two decimals and no $ signs (for example 3.00). Then one last line starting "24 croissants:" with the math and total. Do not use menu prices. Under 90 words.
Common mistakes when you ask AI for this
- Using markup instead of margin. The AI multiplies cost by 1.4. Try: Add: "Margin is 40% of the price: price = cost / 0.6."
- Not rounding up. The AI shows $1.58 for the croissant. Try: Add: "Round up to the next cent."
- Using retail prices. The AI starts from the menu prices. Try: Add: "Do not use the retail menu prices."
- Missing the sample total. The AI skips the 24-croissant line or uses the wrong unit price. Try: Add: "Last line: 24 croissants: 24 x [price] = [total]."
- Extra text. The AI adds notes about margins and markup. Try: Add: "Table plus the last line only, under 90 words."
What a strong prompt includes
- Names the columns
- States the formula
- Rounds up
- Rejects other prices
- Adds the last line
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