understanding formulas

[Dummy Excel]

Hi All,
I have inherited a spreadsheet, which has the below formula. Can someone please explain to me what it means/trying to do??

=(INT(E2/70)*860+IF(MOD(E2,70)>=30,860,IF(20<=MOD(E2,70),550,MOD(E2,70)*92)))/E2

Any help will be greatly appreciated
thanks
Sam

 

[judgepax]

Going to break this down with an example where E2=145.

=(a*860+IF(b>=30,860,IF(20<=b,550,b*92)))/E2

Algebra: E2/70=2.07 or 2r5.
a: INT(E2/70) = integer of 145 divided by 70 = 2
b: MOD(E2,70) = remainder of 145 divided by 70 = 5

=(a*860+IF(b>=30,860,c))/E2

c: IF(20<=b,550,b*92) = if b (the remainder) is greater than or equal to 20... TRUE = 550... FALSE = b (the remainder) times 92. For our "E2=145" example, this would be FALSE so 2*92 = 184

=(a*860+d)/E2

d: IF(b>=30,860,c) = if b (the remainder) is greater than or equal to 30... TRUE = 860... FALSE = c (184 in our example). For our "E2=145" example, this would be FALSE so 184.

So our "E2=145" example has a nested calculation of

=(a*860+d)/E2

or

=(2*860+184)/145

For a final result of 13.13.

 

[Dummy Excel]

thanks judge for the detailed explanation.
In my spreadsheet my answer is 15.03448276.

I think the error is b*92=184 (b=2), should b=5?

 

[judgepax]

You are correct. My apologies, but glad you could follow the breakdown.