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Math Help - I need help with a simple formula.

  1. #1
    csk
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    I need help with a simple formula.

    I am trying to come up with a formula for an excel spreadsheet.

    What I know is the amount received for a product. Say $261.90. I also know that the fee was 3%. What I want to find out is how much was actually paid. (For this instance it should be $270 but I don't know that yet. That is what I want to find out.)

    Any suggestions on a simple formula?

    Thank you, CK
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  2. #2
    MHF Contributor
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    Re: I need help with a simple formula.

    payed = received / (1 - 3%) = received / 0.97.
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  3. #3
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    Re: I need help with a simple formula.

    your wording is quite bad, are you saying it has decreased in value or depreciated over time because 3% of 270 is 261.90
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  4. #4
    csk
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    Re: I need help with a simple formula.

    Perfect Thank You!
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