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So, I've tried it this way, and also with Fire X 50% and Earth x 200% however when it comes to battling enemies it seems they hit the exact same. I have the element of the enemy I'm testing as fire. However, when I use a fire element and water element they attack the enemy at about the same damage.
I'm unsure on why this is, I'm trying to add classic element balances to the game, and having it so water does more damage to fire, and less to earth. As well as receives less damage from fire and double from earth.