Thread: Solving an Algebra Formula

I need to solve this equation. The end goal is to be able to create a worksheet where I can set a goal profitability for a project and have the spreadsheet kick out the suggested price. Here is the equation:

(Price - Labor - Database - Commission)/Price = % profitability

Labor is assumed to be a constant.

Commission has the following equation: Commission = (Price - Labor - Database)*.14

So basically I need to solve for Price and I can't remember for the life of me how to get rid of the parentheses.

Simple Version: (P - L - D - ((P - L - D)*.14))/P = X (Solve for P)

Any help would be incredibly appreciated.

Originally Posted by noeltroy

I need to solve this equation. The end goal is to be able to create a worksheet where I can set a goal profitability for a project and have the spreadsheet kick out the suggested price. Here is the equation:

(Price - Labor - Database - Commission)/Price = % profitability

Labor is assumed to be a constant.

Commission has the following equation: Commission = (Price - Labor - Database)*.14

So basically I need to solve for Price and I can't remember for the life of me how to get rid of the parentheses.

Simple Version: (P - L - D - ((P - L - D)*.14))/P = X (Solve for P)

Any help would be incredibly appreciated.

Brilliant! Thanks so much! There were a couple of moves in there I'd forgotten you could do. Really, really helpful. Thanks!

Being lazy, I'd set L + D = K and rewrite:

P - K - .14(P - K) = XP
P - K - .14P + .14K = XP
.86P - XP = K - .14K
P(.86 - X) = K(1 - .14)
P = .86K / (.86 - X)

That is really helpful as well. Thanks!