Home | Community | Message Board

Mycohaus
This site includes paid links. Please support our sponsors.


Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Kraken Kratom Shop: Red Vein Kratom

Jump to first unread post Pages: 1 | 2 | Next >  [ show all ]
OfflineSurReality
PsychAdemic
Male User Gallery

Registered: 12/21/06
Posts: 11,808
Loc: Colorado, USA Flag
Last seen: 1 year, 7 months
sort of basic algebra question.
    #19076336 - 11/02/13 05:55 PM (10 years, 3 months ago)

how do you calculate how much to increase the price of something when there is a transaction fee? i remember learning this in my last math class but its been years.

say i am charging someone $500 for something but there is a 2% credit card fee. i can't just multiply 500*1.02 to get a price of $510 because 2% of 510 is $10.20 not 10.

thanks.


--------------------
ProDOPEFiend Diary: (my public diary)

PodCast


Extras: Filter Print Post Top
OfflineFox7
Stranger
Male
Registered: 06/03/13
Posts: 45
Last seen: 10 years, 18 days
Re: sort of basic algebra question. [Re: SurReality]
    #19076384 - 11/02/13 06:07 PM (10 years, 3 months ago)

Quote:

SurReality said:
how do you calculate how much to increase the price of something when there is a transaction fee? i remember learning this in my last math class but its been years.

say i am charging someone $500 for something but there is a 2% credit card fee. i can't just multiply 500*1.02 to get a price of $510 because 2% of 510 is $10.20 not 10.

thanks.




Could you phrase it a little differently? I'm a little confused. I think what your looking for is: y: 500 (1.02)^x (x being the number of times you apply the fee. Like if it was a monthly thing, x would be number of months since the start.)


Edited by Fox7 (11/02/13 06:08 PM)


Extras: Filter Print Post Top
OfflineMHbound
Ballin Out At All Cost
Male

Registered: 09/24/07
Posts: 6,512
Loc: Under The Rainbow
Last seen: 6 years, 10 months
Re: sort of basic algebra question. *DELETED* [Re: Fox7]
    #19076445 - 11/02/13 06:21 PM (10 years, 3 months ago)

Post deleted by MHbound

Reason for deletion: Reposted



--------------------


Extras: Filter Print Post Top
OfflineMHbound
Ballin Out At All Cost
Male

Registered: 09/24/07
Posts: 6,512
Loc: Under The Rainbow
Last seen: 6 years, 10 months
Re: sort of basic algebra question. [Re: MHbound] * 1
    #19076453 - 11/02/13 06:22 PM (10 years, 3 months ago)

(X * .02) + X

where X is the amount charged


--------------------


Extras: Filter Print Post Top
OfflineSurReality
PsychAdemic
Male User Gallery

Registered: 12/21/06
Posts: 11,808
Loc: Colorado, USA Flag
Last seen: 1 year, 7 months
Re: sort of basic algebra question. [Re: MHbound]
    #19076604 - 11/02/13 06:59 PM (10 years, 3 months ago)

the amount charged is a %.

basically i need to know how to add on the fee to the price i want to receive after the price. if i add on percent of the price i want to receive the increase in price increase the fee so i get slightly less than desired.

its not a monthly thing. it individual sales.

so if i add 2% of 500 to 500 and get 510 then the fee is 10.20 and i only actually get 499.80 when i want 500.

its pretty basic, but if you haven't had this type of question before its tricky to figure out the formula. hopefully someone just knows because i know a lot of college folk are up in here.


--------------------
ProDOPEFiend Diary: (my public diary)

PodCast


Extras: Filter Print Post Top
OfflineMHbound
Ballin Out At All Cost
Male

Registered: 09/24/07
Posts: 6,512
Loc: Under The Rainbow
Last seen: 6 years, 10 months
Re: sort of basic algebra question. [Re: SurReality] * 1
    #19076625 - 11/02/13 07:06 PM (10 years, 3 months ago)

How does what I not posted above work?

X * .02 === This is 2 percent of whatever is charged

+ X === This adds back on the original price

So lets say its 510 is the amount charged

510.00 * .02 = 10.20

+ 510.00 = 520.20

Normally .20 would be rounded off but since it is a dollar amount you have to carry it. Adding .00 to whole numbers will make the calculator carry it.

Maybe there is a better way I will wait around.


--------------------


Extras: Filter Print Post Top
InvisibleMidnight_Toker
Gone Fishin'
Male User Gallery

Registered: 09/26/10
Posts: 11,589
Loc: Canada Flag
Re: sort of basic algebra question. [Re: SurReality] * 3
    #19076634 - 11/02/13 07:09 PM (10 years, 3 months ago)

500 * .02 + 500

2% of 510 is 10.20,
2% of 500 is 10

The same math applies for any amount and percentage you want to do.  I think you just messed up in that you're trying to get 510 total but you're adding the 2% to the 510 already when you should be adding it to the 500 instead.


Extras: Filter Print Post Top
Offlinezappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 8 months
Re: sort of basic algebra question. [Re: SurReality] * 2
    #19076673 - 11/02/13 07:22 PM (10 years, 3 months ago)

I don't think you have to pay a 2% fee on the 2% fee.


--------------------


Extras: Filter Print Post Top
InvisibleSheekle
FREE BURKE
 User Gallery


Registered: 01/11/10
Posts: 53,153
Re: sort of basic algebra question. [Re: zappaisgod]
    #19076681 - 11/02/13 07:23 PM (10 years, 3 months ago)

Basic is the opposite of acidic. Period. End of story. Done. There you go. Just like that.


--------------------
"Ur cat died because he hated u" - Koods
"I hope JSB kicks your ass one day." - Vandago
"you are the biggest 'internet guy' I have ever come across"- Jokeshopbeard
"The more I see you post the more I realize you're just this fuckin tie dye loser who trolls the Shroomery 24/7." - Herbologist
"Sheekle you cannot vile the dice of bullshit you have posted on this forum over the years, I like databases" - thelastoneleft
"or maybe i just come from a blood line of superior intelligence" - trees

R.I.P Kelsy, ?/?/?? - 6/11/16


Extras: Filter Print Post Top
OfflineNotTheDevil
Transhuman


Registered: 01/08/13
Posts: 5,436
Loc: US Flag
Last seen: 3 years, 2 months
Re: sort of basic algebra question. [Re: SurReality] * 1
    #19076694 - 11/02/13 07:26 PM (10 years, 3 months ago)

Quote:

SurReality said:
how do you calculate how much to increase the price of something when there is a transaction fee? i remember learning this in my last math class but its been years.

say i am charging someone $500 for something but there is a 2% credit card fee. i can't just multiply 500*1.02 to get a price of $510 because 2% of 510 is $10.20 not 10.

thanks.



It would be 500 * 0.02= 10 | then 500 + 10 =510


Extras: Filter Print Post Top
Offlinezappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 8 months
Re: sort of basic algebra question. [Re: NotTheDevil]
    #19076703 - 11/02/13 07:28 PM (10 years, 3 months ago)

:picard:


--------------------


Extras: Filter Print Post Top
OfflineNotTheDevil
Transhuman


Registered: 01/08/13
Posts: 5,436
Loc: US Flag
Last seen: 3 years, 2 months
Re: sort of basic algebra question. [Re: zappaisgod]
    #19076709 - 11/02/13 07:29 PM (10 years, 3 months ago)

Quote:

zappaisgod said:
:picard:



Dont forget to carry the bacon


Extras: Filter Print Post Top
Offlineuser1837483975
Male

Registered: 10/18/09
Posts: 2,161
Last seen: 3 years, 11 months
Re: sort of basic algebra question. [Re: SurReality]
    #19076745 - 11/02/13 07:38 PM (10 years, 3 months ago)

Quote:

SurReality said:
how do you calculate how much to increase the price of something when there is a transaction fee? i remember learning this in my last math class but its been years.

say i am charging someone $500 for something but there is a 2% credit card fee. i can't just multiply 500*1.02 to get a price of $510 because 2% of 510 is $10.20 not 10.

thanks.




The percentage increase for credit cards is charged on the initial price (in this case $500), not on the actual dollar amount that you transfer. You will pay $510 which includes the credit card fee.

I'm not sure on this, but I think you may be confusing what you need to do here with the compound interest formula, which is M = P( 1 + i )^n.


Extras: Filter Print Post Top
OfflineSurReality
PsychAdemic
Male User Gallery

Registered: 12/21/06
Posts: 11,808
Loc: Colorado, USA Flag
Last seen: 1 year, 7 months
Re: sort of basic algebra question. [Re: user1837483975]
    #19076759 - 11/02/13 07:43 PM (10 years, 3 months ago)

canberra you might be right, not sure what you mean.

you guys are not getting this lol. ok so i want to receive 500. but the customer is going to pay the fee it takes for me to get 500 after the fee is taken out.

if he pays 510, 10.20 will go to the CC processor and i will get 499.80 not 500.


--------------------
ProDOPEFiend Diary: (my public diary)

PodCast


Extras: Filter Print Post Top
OfflineSurReality
PsychAdemic
Male User Gallery

Registered: 12/21/06
Posts: 11,808
Loc: Colorado, USA Flag
Last seen: 1 year, 7 months
Re: sort of basic algebra question. [Re: MHbound]
    #19076774 - 11/02/13 07:46 PM (10 years, 3 months ago)

Quote:

MHbound said:
How does what I not posted above work?

X * .02 === This is 2 percent of whatever is charged

+ X === This adds back on the original price

So lets say its 510 is the amount charged

510.00 * .02 = 10.20

+ 510.00 = 520.20

Normally .20 would be rounded off but since it is a dollar amount you have to carry it. Adding .00 to whole numbers will make the calculator carry it.

Maybe there is a better way I will wait around.





ok i see where you're confused. what ever i charge the fee is deducted from my charge so i get less. not added to, thats just how CC processors work.

so i have to figure what to add, that is the whole point of this thread.


--------------------
ProDOPEFiend Diary: (my public diary)

PodCast


Extras: Filter Print Post Top
OfflineMHbound
Ballin Out At All Cost
Male

Registered: 09/24/07
Posts: 6,512
Loc: Under The Rainbow
Last seen: 6 years, 10 months
Re: sort of basic algebra question. [Re: SurReality]
    #19076778 - 11/02/13 07:47 PM (10 years, 3 months ago)

So, Y - (Y*.02)

510 - (510 * .02)
510 - 10.20
=499.80


--------------------


Extras: Filter Print Post Top
Offlinezappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 8 months
Re: sort of basic algebra question. [Re: SurReality]
    #19076815 - 11/02/13 07:53 PM (10 years, 3 months ago)

Quote:

SurReality said:
canberra you might be right, not sure what you mean.

you guys are not getting this lol. ok so i want to receive 500. but the customer is going to pay the fee it takes for me to get 500 after the fee is taken out.

if he pays 510, 10.20 will go to the CC processor and i will get 499.80 not 500.




OMG!  You got beat for 20 whole cents!  Why, you would have to charge 510 and 20.4 and on and on and on in a fibonacci series of diminishing cents.  I suspect this could turn out to be an asymptote of a fractally realized topological space.


--------------------


Extras: Filter Print Post Top
OfflineSurReality
PsychAdemic
Male User Gallery

Registered: 12/21/06
Posts: 11,808
Loc: Colorado, USA Flag
Last seen: 1 year, 7 months
Re: sort of basic algebra question. [Re: MHbound]
    #19076845 - 11/02/13 07:58 PM (10 years, 3 months ago)

the fact that its only 20 cents doesn't answer the question. have you considered that maybe a business thrives on more than one sale?

wow i kno this is a simple question because i have done this before in algebra class. forget it i guess i give this place too much credit when i assumed someone here could answer a basic math question.


--------------------
ProDOPEFiend Diary: (my public diary)

PodCast


Extras: Filter Print Post Top
OfflineSurReality
PsychAdemic
Male User Gallery

Registered: 12/21/06
Posts: 11,808
Loc: Colorado, USA Flag
Last seen: 1 year, 7 months
Re: sort of basic algebra question. [Re: SurReality]
    #19076861 - 11/02/13 08:02 PM (10 years, 3 months ago)

fuck it i'll just add 2.1% to more than make up for the fee. 500*1.021= 510.5 and 510.5-2%= $500.29 so i get more than desired.


--------------------
ProDOPEFiend Diary: (my public diary)

PodCast


Extras: Filter Print Post Top
Offlinezappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 8 months
Re: sort of basic algebra question. [Re: SurReality]
    #19076867 - 11/02/13 08:03 PM (10 years, 3 months ago)

Quote:

SurReality said:
fuck it i'll just add 2.1% to more than make up for the fee. 500*1.021= 510.5 and 510.5-2%= $500.29 so i get more than desired.



Duh.


--------------------


Extras: Filter Print Post Top
Jump to top Pages: 1 | 2 | Next >  [ show all ]

Kraken Kratom Shop: Red Vein Kratom


Similar ThreadsPosterViewsRepliesLast post
* more algebra questions Grav 1,252 12 11/16/03 03:49 AM
by kyanite
* algebra question Grav 1,251 12 11/12/03 03:56 AM
by Annom
* I despise algebraic long division. Cepheus 1,040 12 05/08/07 08:44 PM
by DrCamacho89
* Questions about Canada.
( 1 2 all )
filthysock 3,836 21 03/11/04 07:10 PM
by sir tripsalot
* Quick chemistry question FirstAvailable 1,519 11 04/01/04 06:14 PM
by FirstAvailable
* Plz help with a .SHN/.WAV related question.. Lightningfractal 1,091 6 01/02/04 09:32 PM
by Lightningfractal
* The Land Of The Free (A question for Americans) Jackal 3,038 19 08/08/03 07:54 PM
by PDU
* A Question... OctopusDr 626 14 03/10/04 02:17 PM
by Krishna

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: Entire Staff
1,637 topic views. 4 members, 33 guests and 38 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2024 Mind Media. Some rights reserved.

Generated in 0.026 seconds spending 0.004 seconds on 14 queries.