Conditional formula in Excel

[Donna]

I have an Excel spreadsheet which includes a calculation of annual mileage
which I then need to convert into a cost.

However, the rate of mileage depends on the amount of mileage, i.e. the
first 10,000 miles at 40p, and mileage in excess of that at 25p.

Currently I have =E9*0.40, however I need to have something in the formula
that ensures that any mileage in excess of 10,000 is calculated at the
reduced rate of 0.25.

Is there a way of doing this? Thanks!

 

[Per Jessen]

Hi

Try this formula:

=IF(E9>10000,(E9-10000)*0.25+4000,E9*0.4)

Regards,
Per

 

[Donna]

That's perfect, thank you!

Hi

Try this formula:

=IF(E9>10000,(E9-10000)*0.25+4000,E9*0.4)

Regards,
Per

 

[Bob Phillips]

IFless

=E9*0.25+MIN(E9,10000)*0.15

--
HTH

Bob

(there's no email, no snail mail, but somewhere should be gmail in my addy)