Formula for calculating transaction fees

Let $x$ be the price we charge. Then there is a transaction fee of $3$ percent, that is $0.03x$. There is an additional charge of $2$ dollars.

So we end up with a net amount of $x-0.03x-2$. We want this to be (say) $100$.

Thus $$x-0.03x-2=100.$$ Simplify this first to $x-0.03x=102$, then to $0.97x=102$. We find that $$x=\dfrac{102}{0.97}.$$

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Algebra Precalculus

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