Calculating Commission fees to create my selling price

[yr25wh]

Hi, I know it's Monday and I keep hitting a wall to calculate my selling price.

I am trying to come up with a selling price where I can factor in all my costs and still make a 10% profit.

The problem is I pay a 15% hosting fee based on the selling price I list, I want to make sure I am "grossing up" my selling price enough to include the 15% fee so I am truly getting 10% after all fees.

Example:
Item cost: 28.00
Shipping cost: 10.00
hosting fee: 15% = 5.70 (38.00 x 15%)

sub total now is 43.70 so 10% profit is = 4.37, if I add the 4.37 to 43.70 = 48.07

If my selling price is now 48.07 then my hosting fee is really 7.21 not 5.70

How do I make sure I am grossing up my sale price enough to include the 15% hosting fee and then make sure I am getting my 10% profit after all fees?

I hope I am explaining my scenario, I appreciate any help anyone can provide on this.

Thank you

 

[C with no eyes]

=(1.1*(Item+Shipping))/0.835

 

[C with no eyes]

Just in case your fee % is changed here's how I calc'd it.

S = Sell price = 110% of (initial Costs + Fee)
C = initial Costs = Item cost + Shipping
F = Fee = 15% of Sell price

Substitute F and C in S
S = (110/100) * (C + (15/100)*S)
= 1.1C + 0.165S

S - 0.165S = 1.1C

S(1-0.165) = 1.1C

0.835S = 1.1C

S = 1.1C/0.835