Which is correct?

[Charlie]

Me and my mate Terry have been doing an Excel project,to get the total cost £44.00 and £10.00 must be added and then multiplied by 1.25% to add a charge for use of a credit card.
The answer I get in my formula is £54.68
Terrys answer comes to £60.75.
Which is correct.
Charlie

 

[Asala42]

G'day,

I can see your formula based on your desc.

Your formula: =54 + (44+10)*(1.25%) = 54.68

I'm still not clear how your friend Terry is calculating it.

Adam

 

[Charlie]

Terry is using this formula =IF(D10="Credit card",SUM(F6+F8)*0.125,0)

 

[AJ]

I'm not sure what you mean by multiplied by 1.25%. I think what you mean to say, is add on an extra 1.25% to get the final cost.
In which case, Terry is right.

(44+10)*1.125 = 60.75

 

[Asala42]

Hold up

(44+10)*1.125 = 60.75

+1.25% would be (44+10)*1.0125 = 54.68

(44+10)*1.125 would be 12.5%

good catch - didn't think of that

Adam

 

[Charlie]

Im still confused HeHe.
Im using this formula
=IF(I22="N/A","Ferry Unavailable",(I21+I22)*(1+I23))
This message was edited by Charlie on 2002-05-01 07:48

 

[AJ]

Well spotted!

Charlie - you're spot on.
Your mate Terry and I have both just overcharged to the tune of 11.25%!

 

[Charlie]

I was calling the extra TAT
Terrys added tax.

Thanx
Charlie