Question

supposed a credit card processing colpany charged a 3.5% processing fee.

you are selling an item for X

write out an equation that will calculate what is the total amount that you should charge so that you will get excactly X amount of money after any processing fee is applied.

For example,

x=250,

what should you charged the customer so that after the 3.5% proxessing fee is applied you will have excactly 250.00

write out an equation so that it can be used in any situation

supposed a credit card processing colpany charged a 3.5% processing fee. you are selling an item for X write out an equation that will calculate what is the total amount that you should charge so that you will get excactly X amount of money after any processing fee is applied. For example, k=250, what should you charged the customer so that after the 3.5% proxessing fee is applied you will have excactly 250.00 write out an equation so that it can be used in any situation

Answer 1

Let us assume the value of X let say $250

Processing fee = 3.5%

Now the equation we could create for the same value after applying the processing fee charged is

= (X / 1 + 0.035) + (X * 3.5%)

= (X / 1.035) + (X * 3.5)

Now for check this equation we put the above values

= ($250 / 1.035) + ($250 / 1.035 * 3.5%)

= $241,.54 + ($241.54 * 3.5%)

= $241.54 + $8.454

= $249.99

= $250

Hence, it is proved by applying the above equation