Solved

Need help with Microsoft Excel 2007 formula

Posted on 2014-01-30
6
295 Views
Last Modified: 2014-01-31
I have an Excel database with a single column showing different product cost and I want to add markup to each product cost based on that product cost.

For instance if the cost of the product  is less than $10 then markup is 25%,  but if cost is >$10 but < than $20 markup is 22%, if cost is >$20 but <$30 then markup is 20%,  etc. And the result of the calculation put in a seperate column.

Was considering using the  =LOOKUP but not sure of the formula:
Here's what I came up with but Excel doesn't like it. (A1 is one cell with the actual Cost).

=LOOKUP(A1,{10,20,30},{A1*.25+A1,A1*.22+A1, A1*.20+A1})

I'm new at Excel and would appreciate any help! Thanks
0
Comment
Question by:nucomputerguy
6 Comments
 
LVL 3

Expert Comment

by:Paul 1
ID: 39823316
your value in cell A1

=IF(A1>30,A1*1.2,IF(A1<10,A1*1.25,A1*1.22))

first 'if' deals with value > 30 and if its not the else portion evaluates next
Second 'if' deals with value < 10 and 'else' has to be in the 22% range

Edit the 30 and 10 as required
0
 
LVL 3

Expert Comment

by:ola_erik
ID: 39823368
To make it mathematical:


price     range                    markup                adjusted price
               =trunc(a1/10)       =25-(b1*2)           =a1*(1+(c1/100))    or somethingd
5               0                            25    
12             1                            23
14             1                            23
16             1                            23
25             2                            21
35             3                            19
0
 
LVL 3

Expert Comment

by:Paul 1
ID: 39823433
I just re-read the question and made a mistake on the origional calculation
But the nesting of if statements should work with a little adjustment

=IF(A1<10,A1*1.25,IF(AND(A1>10,A1<20),A1*1.22,IF(AND(A1>20,A1<30),A1*1.2,A1*1.18)))

I set the last range( >30) to 18%
0
Three Reasons Why Backup is Strategic

Backup is strategic to your business because your data is strategic to your business. Without backup, your business will fail. This white paper explains why it is vital for you to design and immediately execute a backup strategy to protect 100 percent of your data.

 
LVL 32

Expert Comment

by:Rob Henson
ID: 39823912
See attached use of VLOOKUP with a small table of values to lookup.

Examples in column A, all doing lookup in G1:H5

Thanks
Rob H
Lookups.xlsx
0
 
LVL 81

Accepted Solution

by:
byundt earned 500 total points
ID: 39824011
Excel wasn't liking your LOOKUP formula because you put cell references inside an array constant. If you pull those out, the formula should work:
=LOOKUP(A1,{10,20,30},A1*{0.25,0.22,0.2}+A1)          how your formula could be converted
=LOOKUP(A1,{10,20,30},A1*{1.25,1.22,1.2})                  alternative conversion

If you are going to take this approach, make sure that you include a 0 bracket. If you don't, the formula returns an error if A1 is less than the smallest value in the first array constant. The first formula below adds a 0 bracket, while the second one converts the 10 bracket into a 0 bracket.
=LOOKUP(A1,{0,10,20,30},A1*{0.30,0.25,0.22,0.2}+A1)
=LOOKUP(A1,{0,20,30},A1*{0.25,0.22,0.2}+A1)
0
 

Author Closing Comment

by:nucomputerguy
ID: 39825844
Thanks for the help. Your formulas turned on a light and made it happen! Love the array concept. Thanks
0

Featured Post

Gigs: Get Your Project Delivered by an Expert

Select from freelancers specializing in everything from database administration to programming, who have proven themselves as experts in their field. Hire the best, collaborate easily, pay securely and get projects done right.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

Suggested Solutions

Microsoft Office Picture Manager was included in Office 2003, 2007, and 2010, but not in Office 2013. Users had hopes that it would be in Office 2016/Office 365, but it is not. Fortunately, the same zero-cost technique that works to install it with …
Outlook Free & Paid Tools
The viewer will learn how to  create a slide that will launch other presentations in Microsoft PowerPoint. In the finished slide, each item launches a new PowerPoint presentation and when each is finished it automatically comes back to this slide: …
Access reports are powerful and flexible. Learn how to create a query and then a grouped report using the wizard. Modify the report design after the wizard is done to make it look better. There will be another video to explain how to put the final p…

786 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question