Today we discussing the most widely used function in the excel by all level of the excel users and we trying to make deep dive to Five Scenarios where If Formula is very useful to our routine job.
Definition of IF Instruction:
According to Microsoft Excel, IF statement is defined as a function which â€œchecks whether a condition is met, returns one value if True and another value if Falseâ€.
In plain simple English IF function is an instruction that checks any condition, if the condition is found to be TRUE then it returns a predefined value however if the condition is False, it returns a different predefined value
Syntax of Excel IF Statement:
The syntax of If Function in Excel is as follows:
=IF (Logic_Test, Value_if_True, Value_if_False)
Here, â€˜Logic_Testâ€™ refers to the expression that is to be evaluated.
â€˜Value_if_Trueâ€™ is the output of IF Statement if the â€˜Logic_Testâ€™ is TRUE.
â€˜Value_if_Falseâ€™ is the output of IF Statement if the â€˜Logic_Testâ€™ is FALSE.
Here HR Assitant need to prepare the report based on the Bonus and management had given instruction find out the number of employees eligible for the bonus and not eligible for bonus, if He had the list of 1000 employees it is difficult for him to prepare, So he started to write the if formula for solving this issue and make the logical test like this.
=If(Salary is more than 5000,â€Eligible to Bonusâ€,â€Not Eligible for Bonusâ€)
Here another task is given to HR Executive for calculating the bonus based on the salary and criteria provided by the management is â€œIf Salary is less the 5000, rate of bonus is 10% and if is more the bonus will 15% of the salary.
So here the if formula will be â€œIf(Salary is less than 5000,Salary*10%,Salary*15%)
As per the below example, the formula is
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