
Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion 
 LinkBack  Thread Tools  Display Modes 
April 14th, 2012, 09:03 AM  #1 
Newbie Joined: Apr 2012 Posts: 1 Thanks: 0  Newb needs retail help
I need a formula for finding a baseline retail price. I am paying 2.9% + .30 per transaction in fees, how do I calculate to my base price, ie: if I wanted to end up with exactly $85 after processing fees. Thanks for help 
April 14th, 2012, 09:24 AM  #2  
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,597 Thanks: 1038  Re: Newb needs retail help Quote:
and you still want to apply "2.9% + .30", then selling price P: P  .029P  .30 = 85 .971P = 85.30 P = 87.8475798...  
April 16th, 2012, 11:55 PM  #3 
Senior Member Joined: Apr 2011 From: USA Posts: 782 Thanks: 1  Re: Newb needs retail help
My guess is that these are credit card processing fees, and you want to net $85 on the sale after the fees are paid. But the math still works regardless. (You calculator doesn't care who is who and what the fees are called.) If this is for real life, was that all the better rates you could get? Unless things have changed drastically since the last time I did this stuff, I'd look around. 

Tags 
newb, retail 
Thread Tools  
Display Modes  

Similar Threads  
Thread  Thread Starter  Forum  Replies  Last Post 
Asymptotic Retail Pricing Based on Cost  whdyck  Economics  5  March 21st, 2014 01:00 PM 
Cost Retail At Method  Bikenhaalkin  Algebra  6  May 26th, 2013 09:12 PM 
NewB  kashifkashu  New Users  1  June 3rd, 2012 07:42 AM 
Math newb needs help with complex problem.  Ketchup  Advanced Statistics  0  November 20th, 2008 06:04 PM 