Using the IF function calculate the commission on sales. The commission is 6% on all sales that are at least 20% above cost.
I will assume that you have Cost numbers in column A, Sales numbers in column B.
Try this formula in cell C1:
=if(B1>=1.2*A1, 0.06*B1,"")
To calculate the commission on sales using the IF function in Excel, you can follow these steps:
1. Start by opening an Excel spreadsheet and enter the values of the cost and sales in separate cells. For example, let's assume the cost is in cell A1 and the sales are in cell B1.
2. In a new cell, where you want to display the commission, use the following formula:
=IF(B1>=1.2*A1, B1*0.06, 0)
Explanation of the formula:
- IF(B1>=1.2*A1: This checks if the sales (B1) are at least 20% above the cost (1.2*A1).
- B1*0.06: If the condition is true, the commission is calculated by multiplying the sales amount (B1) by 6% (0.06).
- 0: If the condition is false, meaning the sales are not at least 20% above the cost, then the commission is zero.
3. Press Enter to get the result.
The formula will return the commission amount if the sales are 20% or more above the cost, otherwise, it will return zero.