I was asked a question by a friend of mine’s kid. He asked me if you had a final figure of say 120,000, how do you work out the amount you started with if you added 3% of the starting amount, to the starting amount to get the 120,000.

I put it in a formula as follows 120000 = 3r/100 + r. But I could not work a value for r. I am not sure if that is how you would work it out but can you please help.

Shaun