Sliding Scale for Bonuses

[KeithS.]

I'm using Excel 2010.
I'm working on sales commissions & bonuses. The commission part is easy – just multiply the cell w/ the sales number times the commission rate (as an absolute reference).

I'm stuck on our sliding scale for bonuses.
For example:

• IF sales >=120,000, bonus =2.5%
• IF sales >=150,000, bonus =2.75%
• IF sales >=200,000, bonus =3%

How do I write the IF formula for multiple arguments?

How it should read:
IF sales >=120,000, multiply the cell w/ the sales amount times 2.5%. IF sales >=150,000, multiply the cell w/ the sales amount times 2.75%. IF sales >=200,000, multiply the cell w/ the sales amount times 3%.
I'm thinking it should start with =IF(OR( but I'm nt getting anywhere with that approach.

I'm pretty new to Excel, so trying to avoid VBA solutions or macros.

Many thanks for your help!

 

[Marcelo Branco]

Nice formula Marcelo.

I went 1 step further making table so changing sliding scale is easier.

Thanks Biz.

You are right, to make a table is a better solution.

M.

 

[Biz]

Thanks Biz.

You are right, to make a table is a better solution.

M.

Mate just learning from forums and contributing my 2cents.

Biz