Need help with excel formula

[mangoni]

HI-I NEED A FORMULA THAT WILL CALCULATE THE FOLLOWING COMMISSIONS FOR EACH LINE...

If sales are 5,000,000 to 6,000,000 = 2.5%
If sales are 6,000,000 to 6,500,000 = 3.0%
If sales are 6,500,000 to 7,000,000 = 3.5%
If sales are 7,000,000+ = 4%

PLEASE HELP

 

[NeonRedSharpie]

Hold down on the excitement there buddy...

=IF($A1>=7000000,4%,IF($A1>=6500000,3.5%,IF($A1>=6000000,3%,IF($A1>=5000000,2.5%,0))))

 

[Scott Huish]

Have a look at the VLOOKUP function.

What do you want to do if the sales are less than 5 million?

 

[bbott]

Maybe:

=CHOOSE(IFERROR(MATCH(A1,{7000000,6500000,6000000,5000000,4999999},-1),1),0.04,0.035,0.03,0.025,0)*A1

Your values overlap, so I made some assumptions...

 

[madaknarf]

=IF(AND(A1>=5000000,A1<=6000000),0.025,IF(AND(A1>=6000001,A1<=6500000),0.3,IF(AND(A1>=6500001,A1<=7000000),0.035,IF(A1>7000000,0.04,"outside range"))))

The last part of the formula says "outside range" if the value of A1 is less than 5,000,000 but you can adjust it to be whatever you'd like.

 

[NeonRedSharpie]

=IF(AND(A1>=5000000,A1<=6000000),0.025,IF(AND(A1>=6000001,A1<=6500000),0.3,IF(AND(A1>=6500001,A1<=7000000),0.035,IF(A1>7000000,0.04,"outside range"))))

The last part of the formula says "outside range" if the value of A1 is less than 5,000,000 but you can adjust it to be whatever you'd like.

Fun trick, when doing things like this, always start with the criteria that will only be met once. You included the less than/greater than option, but you don't need the less than. You can sort descending values and only use the greater than.

It's like a case statement in excel/sql. Once a condition is met, it skips the remaining options. No item can be both >7,000,000 and under anything else. So anything over 7,000,000 is attributed a value and skipped.

The same for 6,500,000. If an item is over 6,500,000 AND over 7,000,000, it has already been assigned to the 7,000,000 value!