Adding "IF"s?

[jrs2563]

Howdy! I need to configure a cell to do a "2 tier" calculation for pricing. What I am trying to do is if an item sells for 25.00 or below, then the cost would be 5.25% of the selling price. If the item sold for MORE then 25.00, then I still want to calculate the 5% of the first 25.00 but then want to ADD an additional cost of 2.75% to the amount that sold OVER 25.00. I'm not real adept at doing complicated formulas in Excel. This is what I was trying, but I don't even know if you can ADD 2 different "IF" statements.

=IF((E12<25),(E12*5.25%))+IF((E12>25),(E12-25)*2.75%)

This will only do the portion that at the time is true. It wont add the 2 parts.

Any help will be appreciated. Thanks, Jim

 

[Richard Schollar]

Hi Jim!

Welcome to the Board!

Something like this:

=IF(E2<=25,E2*5.25%,25*5.25%+(E2-25)*2.75%)

Best regards

Richard

 

[barry houdini]

You could use

=E12*2.75%+MIN(E12,25)*2.5%

 

[jrs2563]

BIG Thanks to you Parsnip, AND to you barry houdini...both formulas work PERFECTLY!!!!!!!! I appreciate both your answers!! Jim