Excel - IF Function Problem - Expert Solution

Question description:
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I need a formula to work out if a number is £50,000 less than budget then bonus is zero but if its £50,000 up on budget then bonus is 0.5%?
Solved by G. Q. in 20 mins
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Excelchat Expert 27/06/2018 - 10:16
Hi…Welcome to Got It Pro
Excelchat Expert 27/06/2018 - 10:17
Shall I illustrate the formula in the preview sheet?
User 27/06/2018 - 10:17
Yes please
Excelchat Expert 27/06/2018 - 10:21
Looks like there must be another condition as well
User 27/06/2018 - 10:21
I don't know if thats what I'm looking for, maybe I didnt explain myself
User 27/06/2018 - 10:21
Can I put my figures in the spreadsheet and see if you can help?
Excelchat Expert 27/06/2018 - 10:21
User 27/06/2018 - 10:23
I need a formula that will show zero if the difference is less than £50k but for every £50k over mulitply it by 0.5%?
Excelchat Expert 27/06/2018 - 10:25
oh ok..so for every 50000 you want a 0.5% increase?
User 27/06/2018 - 10:25
Yes please
Excelchat Expert 27/06/2018 - 10:26
So let's say budget is 50000, actual is 150000
User 27/06/2018 - 10:26
Excelchat Expert 27/06/2018 - 10:28
So we have difference 10000
Excelchat Expert 27/06/2018 - 10:28
sorry 100000
Excelchat Expert 27/06/2018 - 10:29
Then, Do you mean to do 50k * 0.5% and then again 50k * 0.5% to cover the 100000
Excelchat Expert 27/06/2018 - 10:32
But there is no way formula to identify how many 50k will be there in the difference, so we are lacking a logic here.
Excelchat Expert 27/06/2018 - 10:32
Is the possibility is define, say the difference can not be more than a certain number, we can do the formula.
Excelchat Expert 27/06/2018 - 10:35
Please see the formula in B7. I have divided the difference amount by 50000 to know how many 50k to do a 0.5%.

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