Calculating Selling price from a complex formula

[McG39]

Hi All,

I need a Excel formula to calculate my selling price based on a predetermined profit. What is know is:

1) The final profit after all the cost ($20)
2) The item cost
3) The merchant fee which is 10% (0.10)
4) The payment processor fee which is 2.9% + $0.30
5) The shipping material cost

In essence, the mathematical formula should be something like this :

Selling price(x) - (Item cost + Merchant fee(0.10*Selling price) + Payment processor fee(0.029*Selling price + $0.30) + Shipping material cost) = $20

If anyone know how to translate this into an Excel formula, it would be greatly appreciated. Thank you.

 

[CANCER MAN]

Hi,

Could you please mention what is the item cost, the shipping material cost, and the selling price. thank you.

 

[footoo]

.

 

[footoo]

This a question re arithmetic, not XL :

Selling price = (Item cost + Payment processor fee($0.30) + Shipping material cost + Final profit($20)) / (1 - Merchant fee %(0.10) - Payment processor fee%(0.029))

 

[McG39]

Hi,

Item cost, shipping material cost varies.

The selling price will be determined based on a predetermined profit.

Thank you.

Hi,

Could you please mention what is the item cost, the shipping material cost, and the selling price. thank you.

 

[McG39]

Your formula make sense, however the merchant fee and payment processor fee should only be applied on the selling price and that is something we can only do after we know the selling price.

Thank you.

This a question re arithmetic, not XL :

Selling price = (Item cost + Payment processor fee($0.30) + Shipping material cost + Final profit($20)) / (1 - Merchant fee %(0.10) - Payment processor fee%(0.029))

 

[McG39]

Just tested your arithmetic and you are correct.

Thank much for solving my issue.

This a question re arithmetic, not XL :

Selling price = (Item cost + Payment processor fee($0.30) + Shipping material cost + Final profit($20)) / (1 - Merchant fee %(0.10) - Payment processor fee%(0.029))