Formula to Caculate Int

[howard]

I have various items in stock and was to calculate the interest for 30.42 days

Where the item has been in stock for less than 30.42 days then the interest must be calculated by taking the value of the item in Col R x int rate in Col AF/365 x No. of days in Stock in Col X, otherwise the interest must be calculated by taking the value of the item in Col R x int rate in Col AF/365 x 30.42



I get #value as a result

See my formula below

 =IF(X2>30.42,Q2*($AP$1/365)*30.42),Q2*($AP$1/365*X2)

Please check & advise

Book1
	R	S	T	U	V	W	X	Y	Z	AA	AB	AC	AD	AE	AF
1	Value of Item						Days in Stock				Monthly Int			int Rate	6.50%
2	45925						115				[URL=https://www.mrexcel.com/forum/usertag.php?do=list&action=hash&hash=value]#value[/URL] !
3	65205						25				[URL=https://www.mrexcel.com/forum/usertag.php?do=list&action=hash&hash=value]#value[/URL] !
4
5
6
Sheet1

Cell Formulas
Range	Formula
AB2	=IF(X2>30.42,Q2*($AF$1/365)*30.42),Q2*($AF$1/365*X2)

 

[wideboydixon]

Are you just referencing the wrong column in the formula? It says Q2 but should it be R2?

WBD

 

[wideboydixon]

Book1
	R	S	T	U	V	W	X	Y	Z	AA	AB	AC	AD	AE	AF
1	Value of Item						Days in Stock				Monthly Int			int Rate	6.50%
2	45925						115				248.7877
3	65205						25				290.2962
Sheet1

Cell Formulas
Range	Formula
AB2	=IF($X2>30.42,$R2*($AF$1/365)*30.42,$R2*($AF$1/365)*$X2)

WBD

 

[howard]

Thanks for the help. My apologies Q2 should have been R2


Your formula works perfectly