Question

Enter a formula in cell B9 using the IFS function to calculate the owner's draw from the company. If the value in cell B7 is greater than or equal to 500000, the draw amount is 50000. If the value in cell B7 is greater than or equal to 150000, the bonus is 5000. If the value in cell B7 is less than 150000, display the text "no draw".

Answer 1

Type the Below IFS function in cell B9,

=IF(B7>=500000,50000,IF(B7>=150000,5000,"no draw"))

• IF is the IFS function used for this operation
• IF function checks whether a condition is met, and returns one value if True, and another value if False

Format of IF function

IF(Logical_Test,[Value_if_true],[Value_if_false])

• Here we have to use Nested IF, because we have to check the value in B7 is greater than or equal to 500000 and again we have to check B7 is greater than or equal to 150000.
• So the first step is to check B7 is >= 500000 and return 50000 if it is true and again use IF function if the condition is false. In the Nested IF, now check the value in B7 >= 150000 and return 5000 if it is true and return "no draw" if it is false