calculating counts of dollar denominations

[Turi]

I have $100 checks, $50 checks, $25 checks, and $10 checks.

I want to calculate the least amount of checks to give
each person. For example Jane needs $75. I could easily
give her 3 $25 checks, but it would be better to give her
1 $50 check and 1 $25 check since each check costs $ in
addition to it's face value. What calculation would I use?

 

[Norman Harker]

Hi Turi!

With the amount in A1. Try the following

B1
=INT(A1/100)
returns number of 100s needed
C1
=INT(MOD(A1,100)/50)
returns number of 50s
D1
=INT(MOD(A1,50)/20)
returns number of 20s
E1
=INT(MOD(A1,50)/10-2*D1)

With all your paycheck requirements in column A (or as appropriate),
the setting up in this way allows vertical summing of the note
requirements in the separate column so that you know what to get from
the bank. You can use the same principles to get down to smaller
denominations if you want.


--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
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[Harlan Grove]

With the amount in A1. Try the following

B1
=INT(A1/100)
returns number of 100s needed
C1
=INT(MOD(A1,100)/50)
returns number of 50s
D1
=INT(MOD(A1,50)/20)
returns number of 20s
E1
=INT(MOD(A1,50)/10-2*D1)

...

If only life were simple enough to allow us to change the specs!

If the D1 denomination were 20, then the E1 formula could be

=INT(MOD(A1,20)/10)

But it's not. The D1 formula needs to use 25 rather than 20, and that leads to
fun-filled complications, e.g., A1 = $30. The numbers of $50s and $25s are 0 or
1 only, and your approach needs some way of dealing with amounts that can't be
represented by the available check denominations, e.g., $13.

 

[Harlan Grove]

... ...
..

If only life were simple enough to allow us to change the specs!

If the D1 denomination were 20, then the E1 formula could be

=INT(MOD(A1,20)/10)

WRONG! But it could be

=INT(MOD(MOD(A1,50),20)/10)

which is still a savings of one '-' op.