Thread: 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

payed = received / (1 - 3%) = received / 0.97.

your wording is quite bad, are you saying it has decreased in value or depreciated over time because 3% of 270 is 261.90

Perfect Thank You!