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February 2nd, 2016, 08:14 AM   #1
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Excel formula help

We need to work out what we can pay someone based on the following:


I = Invoice rate (Supplied by the client at the beginning)
Y = Fixed fee of £1.75
M = Margin % (Variable) which is a % of the total invoice
Z = Company fee at a rate of 3% of the candidate rate
C = Candidate Rate (variable) and needs to be calculated.

I = ((C/(1-M))*M)+(C*(1+Z))+Y

But now we need to isolate the C on the right.


An example would be
I = 93.04
Y = 1.75
M = 10%
Z = 2.40 (at 3%)
C = 80
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February 2nd, 2016, 11:23 AM   #2
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Quote:
Originally Posted by CherryTash View Post
I = Invoice rate (Supplied by the client at the beginning)
Y = Fixed fee of £1.75
M = Margin % (Variable) which is a % of the total invoice
Z = Company fee at a rate of 3% of the candidate rate
C = Candidate Rate (variable) and needs to be calculated.

I = ((C/(1-M))*M)+(C*(1+Z))+Y

But now we need to isolate the C on the right.

An example would be
I = 93.04
Y = 1.75
M = 10%
Z = 2.40 (at 3%)
C = 80
Would be clearer if you stated: I = Invoice amount

Also, M and Z need division by 100:
M = .10
Z = .024

Solving for C:
C = (I - Y)(1 - M) / [1 + z(1 - M)]

Entering givens: C = 80.423844949.....
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February 3rd, 2016, 10:02 AM   #3
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If N is defined as 1/(1 - M), C = (I - Y)/(N + Z).
Thanks from Denis
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February 3rd, 2016, 10:32 AM   #4
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Quote:
Originally Posted by skipjack View Post
If N is defined as 1/(1 - M), C = (I - Y)/(N + Z).
Nice
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February 3rd, 2016, 05:23 PM   #5
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Since the OP's using Excel, (s)he could also use Goal Seek to find the value of C.
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February 3rd, 2016, 07:51 PM   #6
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Originally Posted by 123qwerty View Post
Since the OP's using Excel, (s)he could use Goal Seek to find the value of C.
Ok...but what would that accomplish?
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February 4th, 2016, 05:23 PM   #7
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Quote:
Originally Posted by Denis View Post
Ok...but what would that accomplish?
Given all other variables, Excel an find the value of C for the OP by guessing and checking lots of values.
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