Excel Function for max of percentage or dollar amount

K

Keeprogoal

I am working on an excel project in which I have a rent price say $5000. With
this rent I am trying to find a formula in which I can find the maximum one
needs to pay on this rent. The maximum is either a percentage of that rent or
a dollar amount. For example say the percentage is 10% of this rent or the
fixed amount is $400. I am trying to get the formula to decide which is
greater, and then have this information placed in another cell as the maximum
payment due on the rent of the two possibilities (either 10% of $5000 or
$400).

Thank you,
Philip
 
J

Jim Thomlinson

So long as there are only possible solutions a simple if formula will do...

=IF(5000*0.1>400, 5000*0.1, 400)

You can substitute the hard coded numbers for cell references...
 
D

David Biddulph

Keeprogoal said:
I am working on an excel project in which I have a rent price say $5000.
With
this rent I am trying to find a formula in which I can find the maximum
one
needs to pay on this rent. The maximum is either a percentage of that rent
or
a dollar amount. For example say the percentage is 10% of this rent or
the
fixed amount is $400. I am trying to get the formula to decide which is
greater, and then have this information placed in another cell as the
maximum
payment due on the rent of the two possibilities (either 10% of $5000 or
$400).

=MAX(10%*5000,400)

You can, of course, replace any or all of the numbers by cell references.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top