In this section:
- Application: Elegance ready-to-wear boutique
- Application: La Maison des Gourmets
- Application: Company “Gourmet Delights”
- Application: At Florine Boulangère
- Application: Leclerc Supermarket
- Application: Local supermarket
- Application: BonChoix Supermarket
- Application: Dupont et fils company
- Application: Corner Bakery
- Application: Supermarket Avenir
- Application: ModaLife Textile Company
Application: Elegance ready-to-wear boutique
States :
The Elegance ready-to-wear boutique sells luxury clothing. The manager bought a dress for €120 excluding tax. She wants to make a gross profit on each sale of this dress. The dress is sold at a price including tax of €240. The VAT rate is 20%.
Work to do :
1. What is the selling price excluding tax (PV) of the dress?
2. What is the unit margin of the dress?
3. Calculate the unit margin rate.
4. Calculate the mark rate.
5. Calculate the overall margin if 5 dresses are sold.
Proposed correction:
1. The sales price excluding tax (PV excluding tax) is calculated by removing VAT from the price including tax. So, the PV excluding tax = Price including tax / (1+ VAT rate/100) = €240 / (1+20/100) = €200.
2. The unit margin is calculated by subtracting the purchase price excluding tax (PA excluding tax) from the selling price excluding tax (PV excluding tax). So, Unit margin = PV excluding tax – PA excluding tax = €200 – €120 = €80.
3. The unit margin rate is calculated by dividing the unit margin by the purchase price excluding tax (PA excluding tax) then multiplying by 100. Therefore, Unit margin rate = ((PV excluding tax – PA excluding tax) ÷ PA excluding tax ) x 100 = ((€200 – €120) ÷ €120) x 100 = 66,67%.
4. The brand rate is calculated by dividing the unit margin by the sales price excluding tax (PV excluding tax) then multiplying by 100. Therefore, Brand rate = ((PV excluding tax – PA excluding tax) ÷ PV excluding tax) x 100 = ((€200 – €120) ÷ €200) x 100 = 40%.
5. The overall margin is calculated by multiplying the unit margin by the quantity sold. So, Overall margin = Unit margin x quantity sold = €80 x 5 = €400.
Summary of Formulas Used:
| Formulas | Description |
|---|---|
| VAT rate = 20% | The standard VAT rate in France is 20% |
| Overall margin = Unit margin x quantity sold | The overall margin is calculated by multiplying the unit margin by the quantity sold |
| Margin rate = ((PV excluding tax – PA excluding tax) ÷ PA excluding tax) x 100 | The margin rate makes it possible to assess commercial performance in relation to the purchasing cost |
| Brand rate = ((PV excluding tax – PA excluding tax) ÷ PV excluding tax) x 100 | The brand rate determines the relationship between the commercial margin and the sales price excluding taxes |
Application: La Maison des Gourmets
States :
La Maison des Gourmets is an artisanal cake factory, selling its products both wholesale and in retail. The financial manager wants to do a detailed analysis of business calculations to better understand the financial performance of his company. To do this, he provides the following information for one of their flagship products, strawberry cake:
– Purchase price excluding tax (PA excluding VAT): €10
– Sales price excluding tax (PV excluding VAT): €15
– Quantity sold: 500 units
– Current VAT rate: 20%
Work to do :
1. Calculate the amount of the overall margin.
2. Determine the margin rate.
3. Calculate the mark rate.
4. Calculate the VAT amount.
5. Determine the sales price all taxes included (TTC).
Proposed correction:
1. The overall margin is calculated by multiplying the unit margin (PV excluding tax – PA excluding tax) by the quantity sold. Here, the unit margin is €15 – €10 = €5. So, the overall margin is €5 x 500 = €2500.
2. The margin rate is calculated by taking the difference between the sales price excluding tax and the purchase price excluding tax, all divided by the purchase price excluding tax, then multiplied by 100. In our case, this gives ((15€ – 10€) ÷ 10€) x 100 = 50%.
3. For the markup rate, it is the same formula as the markup rate, except the difference is divided by the sales price. We therefore have ((€15 – €10) ÷ €15) x 100 = 33,33%.
4. To calculate the VAT amount, multiply the sales price excluding tax by the VAT rate. Here, we therefore have 15€ x 20% = 3€.
5. To obtain the sales price including taxes, simply add the VAT amount to the sales price excluding taxes. So, in this example, we have €15 + €3 = €18.
Summary of Formulas Used:
| Concept | Formulas |
|---|---|
| Overall margin | Unit margin x quantity sold |
| Margin rate | ((PV HT – PA HT) ÷ PA HT) x 100) |
| Brand taxes | ((PV HT – PA HT) ÷ PV HT) x 100) |
| VAT amount | PV excluding VAT x VAT rate |
| Sales price including tax | PV excluding tax + VAT amount |
Application: Company “Gourmet Delights”
States :
The company “Gourmet Delights” is a restaurant which offers dishes cooked using local products in a small tourist village. You are the financial manager of the company and your role is to optimize the margins and profitability of each dish sold. The data provided to you is as follows:
– Purchase price excluding tax of duck (for a dish): €16,00
– Quantity of duck sold in a week: 42 units
– Selling price excluding tax of duck: €27,77
– VAT rate: 5,5%
Work to do :
1. Calculate the unit margin on the duck dish.
2. Calculate the overall margin over one week for the duck dish.
3. Calculate the margin rate for the duck dish.
4. Calculate the mark rate on the duck.
5. Calculate the sales price including tax of the duck dish.
Proposed correction:
1. Unit margin = Sales price excluding tax – Purchase price excluding tax = €27,77 – €16,00 = €11,77
2. Overall margin = Unit margin x quantity sold = €11,77 x 42 = €494,34
3. Margin rate = ((Selling price excluding tax – Purchase price excluding tax) ÷ Purchase price excluding tax) x 100 = ((€27,77 – €16,00) ÷ €16,00) x 100 = 73,56%
4. Brand rate = ((Selling price excluding tax – Purchase price excluding tax) ÷ Sales price excluding tax) x 100 = ((€27,77 – €16,00) ÷ €27,77) x 100 = 42,38 .XNUMX%
5. Sales price including tax = Sales price excluding tax x (1 + VAT rate) = €27,77 x (1 + 5,5/100) = €29,29
Summary of Formulas Used:
| Formulas | Details |
|---|---|
| Unit margin | Sales price excluding tax – Purchase price excluding tax |
| Overall margin | Unit margin x quantity sold |
| Margin rate | ((Selling price excluding tax – Purchase price excluding tax) ÷ Purchase price excluding tax) x 100 |
| Brand taxes | ((Sales price excluding tax – Purchase price excluding tax) ÷ Sales price excluding tax) x 100 |
| Sales price including tax | Sales price excluding VAT x (1 + VAT rate) |
Application: At Florine Boulangère
States :
As part of her activity, Florine the baker offers several types of bread, pastries and pastries. To develop her business, she wants to analyze the cost and profitability of her products.
In her offer, she offers a homemade apple pie of which here is the information:
Purchase price excluding tax of the pie: €2,50.
Number of pies sold per day: 50.
Sales price excluding tax of each tart: €6,50.
Florine wants to calculate the margin, the margin rate, the brand rate, the sales price including tax, and the turnover.
Work to do :
1. Calculate the overall margin on the pies.
2. Calculate the margin rate on pies.
3. Calculate the mark rate.
4. Determine the sales price including tax for each pie.
5. Estimate the turnover generated by the sale of pies in one month.
Proposed correction:
1. The overall margin is calculated with the formula:
Overall margin = Unit margin x Quantity sold
Overall margin = (€6,50 – €2,50) x 50
Overall margin = €200 per day
2. The margin rate is determined with the formula:
Margin rate = ((Selling price excluding tax – Purchase price excluding tax) ÷ Purchase price excluding tax) x 100
Margin rate = ((€6,50 – €2,50) ÷ €2,50) x 100
Margin rate = 160%
3. The mark rate is determined according to the formula:
Brand rate = ((Sales price excluding tax – Purchase price excluding tax) ÷ Sales price excluding tax) x 100
Brand rate = ((€6,50 – €2,50) ÷ €6,50) x 100
Brand rate = 62%
4. The sales price including tax of a pie is obtained with the application of the VAT rate of 5,5% (applicable to bakery products):
Sales price including tax = Sales price excluding tax x (1 + (VAT rate / 100))
Sales price including tax of each tart = €6,50 x (1 + (5,5 ÷ 100))
Sales price including tax of each tart = €6,85
5. The turnover is calculated by multiplying the sales price including tax by the number of units sold during the month. Let's say that a month has 30 days, we will have:
Turnover = Sales price including tax x Number sold per day x Number of days in the month
Turnover = €6,85 x 50 x 30
Turnover = €10
Summary of Formulas Used:
| Formulas | Description |
|---|---|
| Overall margin = Unit margin x Quantity sold | Calculation of the overall margin |
| Margin rate = ((Selling price excluding tax – Purchase price excluding tax) ÷ Purchase price excluding tax) x 100 | Calculation of the margin rate |
| Brand rate = ((Sales price excluding tax – Purchase price excluding tax) ÷ Sales price excluding tax) x 100 | Calculation of the mark rate |
| Sales price including tax = Sales price excluding tax x (1 + (VAT rate / 100)) | Calculation of the sales price including tax |
| Turnover = Sales price including tax x Number sold per day x Number of days in the month | Calculation of monthly turnover |
Summary of Formulas Used:
| Formulas | Meaning |
|---|---|
| Overall margin = Unit margin x quantity sold | This is the formula to calculate the overall margin. |
| Margin rate = ((PV excluding tax – PA excluding tax) ÷ PA excluding tax) x 100 | This is the formula for calculating the margin rate. PV HT is the sales price excluding taxes and PA HT is the purchase price excluding taxes. |
| Brand rate = ((PV excluding tax – PA excluding tax) ÷ PV excluding tax) x 100 | This is the formula to calculate the mark rate. PV HT is the sales price excluding taxes and PA HT is the purchase price excluding taxes. |
Application: Leclerc Supermarket
States :
Leclerc Supermarket purchased a quantity of 1000 bottles of water from a certain supplier at a unit price of €0,50 excluding VAT. The products were resold to end consumers at a unit price of €1,00 excluding VAT. The products fall into the category for which the applicable VAT rate is 20%.
Work to do :
1. Calculate the unit margin made by Supermarché Leclerc on each bottle of water sold.
2. Calculate the overall margin made by Supermarché Leclerc on all bottles of water sold.
3. Calculate the margin rate achieved by Supermarché Leclerc.
4. Calculate the brand rate achieved by Supermarché Leclerc.
5. Calculate the sales price including tax for each bottle of water.
Proposed correction:
1. The unit margin is obtained by subtracting the purchase price excluding tax (PA excluding tax) from the selling price excluding tax (PV excluding tax). Here, it is therefore €1,00 – €0,50 = €0,50.
2. The overall margin is obtained by multiplying the unit margin by the quantity sold. It is therefore €0,50 x 1000 = €500.
3. The margin rate is calculated using the formula ((PV excluding tax – PA excluding tax) ÷ PA excluding tax) x 100. It therefore amounts to ((€1,00 – €0,50) ÷ €0,50 ) x 100 = 100%.
4. The brand rate is calculated using the formula ((PV excluding tax – PA excluding tax) ÷ PV excluding tax) x 100. It therefore amounts to ((€1,00 – €0,50) ÷ €1,00 ) x 100 = 50%.
5. The sales price including VAT of a bottle of water is obtained by adding VAT (20% of the PV excluding VAT) to the PV excluding VAT. It is therefore €1,00 + (20% of €1,00) = €1,20.
Summary of Formulas Used:
| Formulas | Meaning |
|---|---|
| Unit margin = PV excluding tax – PA excluding tax | This is the formula to calculate the unit margin |
| Overall margin = Unit margin x quantity sold | This is the formula used to calculate the overall margin |
| Margin rate = ((PV excluding tax – PA excluding tax) ÷ PA excluding tax) x 100 | Formula used to calculate margin rate |
| Brand rate = ((PV excluding tax – PA excluding tax) ÷ PV excluding tax) x 100 | This is the formula to calculate the mark rate |
| PV including VAT = PV excluding VAT + (VAT x PV excluding VAT) | Calculation ion to obtain the sales price including tax |
Application: Local supermarket
States :
The “Superette du coin” is a local grocery store that sells different types of food products. Among these products, it offers “Golden Harvest” brand rice which it purchases from a supplier at a unit price of €1,5 excluding tax. The supermarket plans to sell this rice at a unit price of €2,5 excluding tax. The applicable VAT is 5,5%. In a year, the supermarket sells around 5000 packets of rice.
Work to do :
1. Calculate the unit margin on each packet of rice sold.
2. Calculate the margin rate.
3. Calculate the mark rate.
4. Calculate the overall margin over a year.
5. If the supermarket wishes to increase its overall annual margin by 10%, at what unit price excluding tax should it sell the rice?
Proposed correction:
1. To calculate the unit margin, we subtract the purchase price excluding tax from the selling price excluding tax. So, the unit margin = Sales price excluding tax – Purchase price excluding tax = €2,5 – €1,5 = €1.
2. The margin rate is calculated by dividing the unit margin by the purchase price excluding VAT multiplied by 100. Therefore, the Margin Rate = ((Selling price excluding VAT – Purchase price excluding VAT) ÷ Purchase price excluding VAT ) x 100 = ((€2,5 – €1,5) ÷ €1,5) x 100 = 67%.
3. The brand rate is calculated by dividing the unit margin by the sales price excluding VAT multiplied by 100. Therefore, the Brand Rate = ((Selling price excluding VAT – Purchase price excluding VAT) ÷ Selling price excluding VAT) x 100 = ((€2,5 – €1,5) ÷ €2,5) x 100 = 40%.
4. The overall margin over a year is calculated by multiplying the unit margin by the number of units sold. So, the Overall Margin = Unit Margin x quantity sold = €1 x 5000 = €5000.
5. To increase the overall annual margin by 10%, the supermarket should sell rice at a price that generates a unit margin of €1 + 10% = €1,1. For this, the sales price excluding tax should be = Unit margin + Purchase price excluding tax = €1,1 + €1,5 = €2,6.
Summary of Formulas Used:
| Packages |
|---|
| Unit margin = Sales price excluding tax – Purchase price excluding tax |
| Margin rate = ((Selling price excluding tax – Purchase price excluding tax) ÷ Purchase price excluding tax) x 100 |
| Brand rate = ((Sales price excluding tax – Purchase price excluding tax) ÷ Sales price excluding tax) x 100 |
| Overall margin = Unit margin x quantity sold |
Application: BonChoix Supermarket
States :
The BonChoix company is a supermarket that works with various suppliers to obtain inventory of goods. She wants to improve her financial performance and needs to evaluate her performance based on various business calculations. The supermarket sold 800 units of a product with a purchase price excluding tax (PA excluding tax) of €25 and a selling price excluding tax (PV excluding tax) of €40 per unit. VAT is 20%.
Work to do :
1) Calculate the overall margin in euros for this product.
2) Determine the margin rate.
3) Determine the mark rate.
4) Calculate the total sales amount excluding tax and all taxes included for the product.
5) Calculate the total VAT amount.
Proposed correction:
1) The overall margin is defined by the formula: Unit margin x quantity sold. The unit margin is the PV excluding tax minus the PA excluding tax, i.e. €40 – €25 = €15. So the overall margin is €15 x 800 = €12.
2) The margin rate is obtained by the formula: ((PV excluding tax – PA excluding tax) ÷ PA excluding tax) x 100. By substituting the respective data, we obtain: ((€40 – €25) ÷ €25) x 100 = 60%.
3) The brand rate is calculated as follows: ((PV excluding tax – PA excluding tax) ÷ PV excluding tax) x 100. Substituting the respective values, we obtain: ((€40 – €25) ÷ €40) x 100 = 37,5%.
4) The total amount of sales excluding tax is PV excluding tax x quantity, i.e. €40 x 800 = €32. The amount including all taxes is the amount excluding tax + the corresponding VAT. VAT is 000% on the amount of tax-free sales, i.e. 20 x €0,20 = €32. Therefore, the amount including tax is €000 + €6 = €400.
5) The total amount of VAT is therefore 20% on the amount of tax-free sales, i.e. €6.
Summary of Formulas Used:
| Formulas | Explanation |
|---|---|
| Overall margin = Unit margin x quantity sold | Overall margin is the total unit margins, which are the differences between the selling price and the purchasing price for one unit of the product. |
| Margin rate = ((PV excluding tax – PA excluding tax) ÷ PA excluding tax) x 100 | The margin rate expresses the unit margin as a percentage of the purchase price excluding taxes. |
| Brand rate = ((PV excluding tax – PA excluding tax) ÷ PV excluding tax) x 100 | The brand rate expresses the unit margin as a percentage of the sales price excluding taxes. |
Application: Dupont et fils company
States :
The Dupont et fils company is a family business that specializes in the sale of household products. Louis Dupont, the current owner wishes to analyze the financial performance of his company.
In order to analyze the efficiency of the company's operations, Louis has the following information:
– The purchase price excluding tax of a household product is €15.
– The VAT rate for this product is 20%.
– They sold 200 units of this product.
– The sales price excluding taxes (HT) is €25.
– The company's fixed costs amount to €800.
Work to do :
1. Calculate the VAT amount for this product.
2. Calculate the unit margin for this product.
3. Calculate the overall margin for this product.
4. Calculate the markup rate for this product.
5. Calculate the brand rate for this product.
Proposed correction:
1. To calculate the amount of VAT for this product, we apply the formula: Price excluding VAT x VAT rate. That is €15 x 0,20 = €3. Therefore, the VAT amount for this product is €3.
2. The unit margin is calculated by subtracting the purchase price excluding taxes from the selling price excluding taxes. In this case we have: €25 – €15 = €10. So, the unit margin for this product is €10.
3. To obtain the overall margin, we multiply the unit margin by the quantity sold. That is, €10 x 200 = €2. The overall margin for this product is therefore €000.
4. The margin rate is calculated using the formula: ((Selling price excluding tax – Purchase price excluding tax) ÷ Purchase price excluding tax) x 100. Therefore ((€25 – €15) ÷ €15) x 100 = 66,67%. The margin rate of this product is 66,67%.
5. Finally, to calculate the brand rate, we use the formula: ((Selling price excluding tax – Purchase price excluding tax) ÷ Sales price excluding tax) x 100. ((€25 – €15) ÷ €25) x 100 = 40%. The brand rate of this product is therefore 40%.
Summary of Formulas Used:
| Formulas | Description |
|---|---|
| Price excluding VAT x VAT rate | Calculation of the VAT amount |
| Sales price excluding tax – Purchase price excluding tax | Unit margin |
| Unit margin x quantity sold | Overall margin |
| ((Selling price excluding tax – Purchase price excluding tax) ÷ Purchase price excluding tax) x 100 | Margin rate |
| ((Sales price excluding tax – Purchase price excluding tax) ÷ Sales price excluding tax) x 100 | Brand taxes |
Application: Corner Bakery
States :
The company “Boulangerie du Coin” is a small company which specializes in the production and sale of breads and pastries. The managers provided the following financial information:
– Purchase price excluding tax of pain au chocolat: €0,50
– Quantity sold of pain au chocolat: 1000 units per month
– Sales price excluding tax of pain au chocolat: €1
– Applicable VAT rate: 20%
They want to better understand their margins and financial performance.
Work to do :
1. Calculate the unit margin on pain au chocolat.
2. Calculate the overall margin on the pain au chocolat.
3. Calculate the margin rate on pain au chocolat.
4. Calculate the mark rate on the pain au chocolat.
5. Calculate the sales price including tax of the pain au chocolat.
Proposed correction:
1. The unit margin is calculated by subtracting the purchase price excluding tax from the selling price excluding tax. Or: €1 -€0,50 = €0,50
2. The overall margin is calculated by multiplying the unit margin by the quantity sold. Or: €0,50 x 1000 units = €500
3. The margin rate is obtained by dividing the unit margin by the purchase price excluding tax and multiplying the result by 100. That is: ((1€ – 0,50€) ÷ 0,50€) x 100 = 100%
4. The brand rate is obtained by dividing the unit margin by the sales price excluding tax and multiplying the result by 100. That is: ((€1 – €0,50) ÷ €1) x 100 = 50%
5. The sales price including VAT is obtained by adding to the price excluding VAT the VAT calculated on the latter. Or: €1 + (€1 x 20/100) = €1,20
Summary of Formulas Used:
| Formulas | Description |
|---|---|
| Unit margin = PV excluding tax – PA excluding tax | Calculation of unit margin |
| Margin rate = ((PV excluding tax – PA excluding tax) ÷ PA excluding tax) x 100 | Calculation of the margin rate |
| Brand rate = ((PV excluding tax – PA excluding tax) ÷ PV excluding tax) x 100 | Calculation of the mark rate |
| Overall margin = Unit margin x quantity sold | Calculation of the overall margin |
| Sales Price including VAT = PV excluding VAT + (PV excluding VAT x VAT rate / 100) | Calculation of the sales price including tax |
Application: Supermarket Avenir
States :
The Supermarché Avenir company is located in a small town and is expanding. It mainly sells grocery products (the products are all subject to the 20% VAT rate) and also offers special offers to attract more customers. Recently, the company sold an item whose purchase price excluding tax was €20. After making some adjustments for the markup rate, she sold the item at a tax-free retail price of €35.
Work to do :
1. Calculate the amount of margin made on this item.
2. Calculate the markup rate on this item.
3. Calculate the markup rate on this item.
4. Calculate the sales price including tax for this item.
5. If Supermarché Avenir sold 1 units of this item, what would be its overall margin?
Proposed correction:
1. Margin made on the item = Sales price excluding tax – Purchase price excluding tax = €35 – €20 = €15
2. Margin rate = ((Selling price excluding tax – Purchase price excluding tax) ÷ Purchase price excluding tax) x 100 = ((€35 – €20) ÷ €20) x 100 = 75%
3. Brand rate = ((Selling price excluding tax – Purchase price excluding tax) ÷ Sales price excluding tax) x 100 = ((€35 – €20) ÷ €35) x 100 = 42,86 .XNUMX%
4. Sales price including tax = Sales price excluding tax + (Sales price excluding tax x VAT rate) = €35 + (€35 x 20%) = €35 + €7 = €42
5. Overall margin = Unit margin x Quantity sold = €15 x 1 = €000
Summary of Formulas Used:
| Concept | Formulas |
|---|---|
| Margin made on the item | Sales price excluding tax – Purchase price excluding tax |
| Margin rate | ((Selling price excluding tax – Purchase price excluding tax) ÷ Purchase price excluding tax) x 100 |
| Brand taxes | ((Sales price excluding tax – Purchase price excluding tax) ÷ Sales price excluding tax) x 100 |
| Sales price including tax | Sales price excluding tax + (Sales price excluding tax x VAT rate) |
| Overall margin | Unit margin x Quantity sold |
Application: ModaLife Textile Company
States :
The ModaLife company located in France has specialized in the making and sale of clothing since its creation. Its main activity consists of the sale of ready-to-wear products for women, men and children. The company's management made a purchase of a quantity of 200 pants at a purchase price excluding tax of €30 each. These pants are sold at a sales price excluding tax of €85 each. The VAT rate applicable on these products is 20%.
Work to do :
1) Calculate the total purchase price excluding taxes for the 200 pairs of pants.
2) Calculate the total sales price excluding taxes for the 200 pairs of pants.
3) Calculate the overall margin made on the sale of the 200 pants.
4) Calculate the margin rate on each pair of pants sold.
5) Calculate the brand rate on each pair of pants sold.
Proposed correction:
1) The total purchase price excluding tax for the 200 pants is 200 x €30 = €6.
2) The total sales price excluding tax for the 200 pants is 200 x €85 = €17.
3) The overall margin made on the sale of the 200 pants is (Total sales price excluding tax – Total purchase price excluding tax) = €17 – €000 = €6.
4) The margin rate on each pair of pants sold is ((Unit sales price excluding tax – Unit purchase price excluding tax) ÷ Unit purchase price excluding tax) x 100 = ((€85 – €30) ÷ €30) x 100 = 183,33%.
5) The brand rate on each pair of pants sold is ((Unit sales price excluding tax – Unit purchase price excluding tax) ÷ Unit sales price excluding tax) x 100 = ((€85 – €30) ÷ €85) x 100 = 64,71%.
Summary of Formulas Used:
| Concept | Formulas |
|---|---|
| Total purchase price excluding tax | Unit purchase price excluding tax x Quantity purchased |
| Total sales price excluding tax | Unit sales price excluding tax x Quantity sold |
| Overall margin | (Total sales price excluding tax – Total purchase price excluding tax) |
| Margin rate | ((Unit sales price excluding tax – Unit purchase price excluding tax) ÷ Unit purchase price excluding tax) x 100 |
| Brand taxes | ((Unit sales price excluding tax – Unit purchase price excluding tax) ÷ Unit sales price excluding tax) x 100 |