calculate using IF function when buyer gives 1% discount if payment over 300000. The Power of the IF Function in Calculating Discounts

Use the Power of IF to Calculate Discounts 

Microsoft Excel’s IF function can make calculations based upon logic tests. This function can be used to calculate discounts for customers who have paid more than a specified amount. A buyer may qualify for a discount of 1% if they pay more than $300,000. The IF function automates this calculation, which saves time while ensuring accuracy. The IF function begins with the syntax “IF(logical_test, [value_if_true], [value_if_false]).” This means that the function will first evaluate the logical test, which can be a value, formula, or comparison operator. If the logical test is true, the value specified for “value_if_true” will be returned. If the logical test is false, the value specified for “value_if_false” will be returned. The value_if_true is the discounted amount. While the value_if_false represents the total amount not subject to the discount (Ahmed 2020). For example, if a buyer pays $400,000, the following formula can be used to calculate the discounted amount: IF(A2>300000, A2*0.99, A2). This will give you the value. Cont…