SOLUTION: How do you set up the equation to solve the problem, "A merchant wants to clear $365.00 after paying a service fee of 3.25%. How much much must the merchant charge his customer?" I
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Question 698063: How do you set up the equation to solve the problem, "A merchant wants to clear $365.00 after paying a service fee of 3.25%. How much much must the merchant charge his customer?" I multiplied $365.00 by 0.0325, then added that amount to the $365.00. Is there a better method/formula, Please. Thank you. Answer by MathTherapy(10858) (Show Source):
You can put this solution on YOUR website! How do you set up the equation to solve the problem, "A merchant wants to clear $365.00 after paying a service fee of 3.25%. How much much must the merchant charge his customer?" I multiplied $365.00 by 0.0325, then added that amount to the $365.00. Is there a better method/formula, Please. Thank you.
The $365 represents 100%, so adding 3.25% to 100% results in a multiplicative amount of , which is then multiplied by $365 (), thus resulting in the amount to be charged to the customer. This amount will also be the same as calculating the 3.25% service fee and then adding it to the $365 - just as you did.
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