Conditional Percentage Calculations

[dosman]

I have a sheet with the following conditions

Cell I8 contains a validated drop down list which contains the numbers 1 through 9. Each number represents a percentage to be calculated.

Cell P8 contains a dollar amount I want to calculate a percentage for

I want cell Q8 to hold a formula that takes the number in I8 and uses the following rules to determine the percentage of the dollar amount in P8.
If the number in I8 = 1 then I need to calculate 100% of the total in P8
If it is 2 the percentage to be calculated is 90. 3 would be 80%, 4 would be 70% until you get to the number 9 which would be 20%.

I tried a simple IF statement in Q8 to test against one of the conditions and the formula keeps returning a date or the word False: IF(I8="4",P8*.7)

I am not sure if I am even using correct syntax for IF. I am wondering if there is a better function to use to match the number in I8 to calculate the corresponding percentage of the number in P8. Maybe a nested AND statement? Once I have a working function, the cell in Q8 needs to test for all 9 possibilities. I have started banging my head on the desk.

Any help is GREATLY appreciated.

 

[DanteAmor]

Try:

=IF(I8=1,P8*1,IF(I8=2,P8*0.9,IF(I8=3,P8*0.8,IF(I8=4,P8*0.7,IF(I8=5,P8*0.6,IF(I8=6,P8*0.5,IF(I8=7,P8*0.4,IF(I8=8,P8*0.3,IF(I8=9,P8*0.2)))))))))


Or try this:

=P8*(1-((I8-1)/10))

 

[StephenCrump]

Ignore

 

[dosman]

Thank you Dante and Stephen. This forum is absolutely amazing. All suggestions worked!!

 

[DanteAmor]

You're welcome.