Creating a formula to find a breakeven point

[excelfriend]

I want to create a formula that will tell me the breakeven point. For example:

I buy an item for $10.
What is the minimum price I can sell the same item if I am taxed 10% on the selling price.

So in this example it would be $11.11 since 10% of that is $1.11 which is $11.11 - $1.11 = $10.

But I'm unable to figure out how I can make a formula for this.
Ideally I can input one cell with the Buy item price.
One cell with the % of the tax.
And then the answer (minimum price) is put in a new clel.

Thank you so much. Hope I am clear, I am new to this forum.

 

[Candyman8019]

A1 = 10.00
B1 = A1*.1
C1 = A1*1.1
These would be the basic formulas to get what you want...although your 10% on $10 will only be $11 rather than 11.11.

 

[excelfriend]

Would there be a way to get it more accurate to the 11.11?

 

[Candyman8019]

You would need to use a tax rate of 1.111 rather than 10

 

[johnnyL]

The following formula column .. C column in this case, will work for 10%

Book1
	A	B	C	D	E	F	G	H	I
1	Original Cost	Selling Tax	Break Even Selling Price			Break Even Selling Price	Selling Tax	Original Cost
2	$10.00	10.00%	$11.11			$11.11	10.00%	$10.00
3	$15.00	10.00%	$16.67			$16.67	10.00%	$15.00
4	$20.00	10.00%	$22.22			$22.22	10.00%	$20.00
5
POS

Cell Formulas
Range	Formula
F2:F4	F2	=C2
G2:G4	G2	=B2
H2:H4	H2	=F2 - (F2*G2)
C2:C4	C2	= A2*(1+B2)+(A2*(1+B2)*B2 + A2) * B2/(B2*100)

 

[Eric W]

You can simplify that with a little algebra:

Book1 (version 1).xlsb
	A	B	C	D
1	Original Cost	Break Even Price		Tax
2	$ 10.00	$ 11.11		10%
3	$ 15.00	$ 16.67
4	$ 20.00	$ 22.22
Sheet22

Cell Formulas
Range	Formula
B2:B4	B2	=A2/(1-D$2)

 

[johnnyL]

You can simplify that with a little algebra:

Book1 (version 1).xlsb
	A	B	C	D
1	Original Cost	Break Even Price		Tax
2	$ 10.00	$ 11.11		10%
3	$ 15.00	$ 16.67
4	$ 20.00	$ 22.22
Sheet22

Cell Formulas
Range	Formula
B2:B4	B2	=A2/(1-D$2)

That is a far better solution than what I came up with for a few reasons that I notice:
1) Much simpler formula
2) It works if the percentage is changed.