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February 2nd, 2016, 08:14 AM  #1 
Newbie Joined: Feb 2016 From: Brighton Posts: 1 Thanks: 0  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/(1M))*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 
February 2nd, 2016, 11:23 AM  #2  
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,597 Thanks: 1038  Quote:
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.....  
February 3rd, 2016, 10:02 AM  #3 
Global Moderator Joined: Dec 2006 Posts: 20,969 Thanks: 2219 
If N is defined as 1/(1  M), C = (I  Y)/(N + Z).

February 3rd, 2016, 10:32 AM  #4 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,597 Thanks: 1038  
February 3rd, 2016, 05:23 PM  #5 
Senior Member Joined: Dec 2012 From: Hong Kong Posts: 853 Thanks: 311 Math Focus: Stochastic processes, statistical inference, data mining, computational linguistics 
Since the OP's using Excel, (s)he could also use Goal Seek to find the value of C.

February 3rd, 2016, 07:51 PM  #6 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,597 Thanks: 1038  
February 4th, 2016, 05:23 PM  #7 
Senior Member Joined: Dec 2012 From: Hong Kong Posts: 853 Thanks: 311 Math Focus: Stochastic processes, statistical inference, data mining, computational linguistics  

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