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Let's say there's a fee of 5% applied on funds deposit - how much do I have to deposit in order to have net $\$100$ in an account?

I thought it's simply $\$105$ :D (however then fee = 5,25).

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If you are charged $5\%$ of what you deposit, then you only have $95\%$ of what you deposit in the account. So you want to solve $0.95x=100$. –  yunone Jun 27 '11 at 16:41

1 Answer 1

You have to solve:

x.(1-5%)=100

then x=105,26...=100/0,95

Why is it not 105 ?

5% of 100 is 5,

If X>100 then 5% of X is greater than 5

Therefore if you take 5% out of 105 since 105>100 the result will be less than 100.

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