Hi,

I may struggle to explain this, so I am sorry if it gets confusing!

I am trying to calculate an items selling price but have hit a problem. Basically I have calculated a selling price of £1,209.56 but I now need to add a payment processing fee of 3.4% of the total. Adding the 3.4% to the selling price gives me £1,250.69. The problem is that by adding the 3.4% (£41.13) to the selling price, I have increased the amount that the 3.4% is based on, which means that the 3.4% is now actually going to be around £43.52, meaning I haven't fully covered the cost.

I know I could just up it a few points of a percent to comfortably cover the cost but I would like to know if there is some mathematical formula or method that could calculate this more precisely

Thanks for any help

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