Algebraic Covnersions
Posted by Cory on December 27, 2001 1:51 PM
This one should be simple... but not for myself or my co-worker! We quoted someone prices on several items. They returned to us data showing how much higher in price we were over them (in %). We are trying to figure out their cost based on this information in Excel. We can do it by hand, but can't figure out how this would work using Excel. Examples:
Our cost: $0.18
They say we're: 50% higher
That means they buy it for $0.12
or ((.12 * 50%(+.12)= $0.18
Any ideas qould be appreciated! Thanks!!
Cory
Posted by Cory on December 27, 2001 2:49 PM
Nevermind! Figured it out! Using the example given (.18 is 50% higher than their price, therefore their price is .12), it's simply our price (.18) divided by whatever percentage was given + 1 (i.e.: .18/(1 + (50/100) = .18/1.5 = .12)
I have this tendancy to make things harder than they need be, and that tendancy shined through bright and clear today! LOL
Thanks anyways!
Cory
