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Excel formula for commissions

Posted on 2012-04-02
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Last Modified: 2012-04-02
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
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Question by:padillrr
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6 Comments
 
LVL 42

Expert Comment

by:dlmille
ID: 37799137
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
0
 
LVL 43

Assisted Solution

by:Saqib Husain, Syed
Saqib Husain, Syed earned 150 total points
ID: 37799150
Check out this file which uses vlookup
Commission.xlsx
0
 

Author Comment

by:padillrr
ID: 37799212
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.
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LVL 42

Expert Comment

by:dlmille
ID: 37799221
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
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LVL 42

Accepted Solution

by:
dlmille earned 350 total points
ID: 37799225
PS - if you want to put it all in one "neat" formula, this one's simpler:

=VLOOKUP(A2*B2,{0.01,0.69,0.04;0.7,2.5,0.04;2.51,11.99,0.035;12,49.99,0.03;50,99.99,0.03;100,149.99,0.025;150,229.99,0.0225;230,299.99,0.02;300,399.99,0.015;400,999.99,0.0125;1000,"UP",0.01},3)

Where A2 is your quantity and B2 is the cost.  The result will be the commission rate.

Dave
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Author Closing Comment

by:padillrr
ID: 37799393
Thanks Guys real quick and worked like a charm!
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