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Excel formula for commissions

Experts, I had a similar questions a few months ago, I think this falls right in line with it: I have a table:

Cost Amount of Commission
$0.01 - $0.69 4%
$0.70 - $2.50 4%
$2.51 - $11.99 3.5%
$12.00 - $49.99 3%
$50.00 - $99.99 3%
$100 - $149.99 2.5%
$150 - $229.99 2.25%
$230 x $299.99 2%
$300 - $399.99 1.5%
$400 - $999.99 1.25%
$1000 - Up 1%

There are 3 columns amount, this is the price of the item
quantity how many of that item the sold then I need the commission so
A B C
2.00 6 %

Thanks

dlmille

See attached. You only need use vlookup(value of Qty * Price, Table, 3) to return the commission value, where the table has:

LOW HIGH COMMISSION
.01 .69 4%
etc...

Dave
commission-r1.xls

SOLUTION

Saqib Husain

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Ray Padilla

ASKER

I'm sorry not sure what these spreadsheets demonstrate, or what I'm supposed to do with a vlookup. I have a formula created here that does some real nice math for me =IF(L2<0.7,L2+0.78,L2*INDEX({1.25,1.3,1.4,1.45,1.5,1.65,1.8,1.85,1.9,1.95,2},MATCH(L2,{99999,1999.99,999.99,399.99,299.99,229.99,149.99,99.99,49.99,11.99,2.5},-1)))

This does a checks a price range and then multiplies it by a certain amount to come up with another price, very cool. I've tried to modify this so it will do what I need but I can't figure it out. Maybe it will help.

dlmille

All you need to do is use the vlookup that was provided. See the attached worksheet. The table that has been created provides all the logic that is needed. You only need to do a vlookup against it to get the commission:

E.g.,

=Vlookup(valueToFind,Table,3) to get the commission.

This is much less sophisticated than the IF/INDEX/MATCH approach.

See attached again. Please ask questions for clarification
commission-r1.xls

ASKER CERTIFIED SOLUTION

dlmille

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Ray Padilla

ASKER

Thanks Guys real quick and worked like a charm!