How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask getsetgo Your Own Question
getsetgo
getsetgo, MBA
Category: Homework
Satisfied Customers: 3487
Experience:  MBA from IIM Calcutta, Engineer, 8+ years of exp. at executive level
15962517
Type Your Homework Question Here...
getsetgo is online now
A new question is answered every 9 seconds

I am stuck with a problem I can not figure out: A price

Customer Question

I am stuck with a problem I can not figure out:

A price is X value (can change and will be handled accoridng to the below calc)
A produkt has a margin on 20%
If the margin in amount is less than 250 units the shown amount should be 250 units
If the margin is more than 1200 units the shown amount should be 1200 units
If the margin is more than 250 but less than 1200 the margin is 20% och the price.

For example:

Ig you sell a product at the cost of 1000
The margin of the produkt is 20%, 200.
That gives to little profit so the price should then be 250.
If you sell a product at the cost of 7000
The margin of the product is 20%, 1400
That gives to much profit so the price should then be 1200.

Minimum: 250
Marginal: 20%
Maximum: 1200

Do you have a solution to this?
Brgds Lars
Submitted: 4 years ago.
Category: Homework
Expert:  active1065 replied 4 years ago.

active1065 :

Hi

active1065 :

welcome to justanswer

active1065 :

You are correct

If the margin in amount is less than 250 units the shown amount should be 250 units
If the margin is more than 1200 units the shown amount should be 1200 units
If the margin is more than 250 but less than 1200 the margin is 20% och the price.


margin<250 margin=250
margin>1200 margin=1200
margin lies between 250 and 1200 that is if margin is greater than 250 and less than 1200 then it should be the 20% of the price or equal to the margin you have calculated.


Your first two examples are absolutely correct


active1065 :

For the 3rd one take one more example

active1065 :

if product price 2000

active1065 :

margin=20% of the price=400

active1065 :

it lies between 250 and 1200 .

active1065 :

so margin will be the same i.e 20 % of the price=400

Customer:

The calculation is a price matrix.

active1065 :

this is what my understanding of the problem

active1065 :

i will opt out for other experts as i am running out of time

Customer:

The price on a product should be 250 on lower margins and 1200 on higher margins but be the margin inbetween the low and the high. I tried with this formula: =IF(C75<=C76;C76;IF(C75>=C77;C77;IF(AND(C75>=C76;C75<=C77;C75)))) C75=Margin, C76=250, C77=1200

Customer:

Your example "For the 3rd one take one more example" is correct!

Customer:

Hello?

Expert:  getsetgo replied 4 years ago.
THIS ANSWER IS LOCKED!

You need to spend $3 to view this post. Add Funds to your account and buy credits.
getsetgo, MBA
Category: Homework
Satisfied Customers: 3487
Experience: MBA from IIM Calcutta, Engineer, 8+ years of exp. at executive level
getsetgo and 3 other Homework Specialists are ready to help you
Customer: replied 4 years ago.

I have tried your calculation and when I write: =IF(B4<=250,250,IF(B4<1200,B4,1200)) it does not work - i get a message from excel that there is a fault in the formula. I then tried to change , to ; and It seems to work with 10 000. But when I lower it to 5 000 it does not work.

And wehn i go through the lower ranges it is OK until i reach the breakpoint and the system directly leav no margin... How can I use , instead of ;?

Expert:  getsetgo replied 4 years ago.
It works with 5000 as well. I get the answer 1000.

Do not enter anything in margin (as 20% is fixed) or any other thing. Just change the value in Price (B2). Then see the effect in yellow color cell B5.

Check with all possible values. If you get any such values, lt me know. I think it should work with all values. When you are satisfied with the result, I will explain the formula, if you want me to do so.
Expert:  getsetgo replied 4 years ago.
I have identified critical ;points like this:
Margin 250 and 1200 are critical. This happens when price are 1250 and 6000 respectively.
So, I tested this formula for following points and found correct result:

Price = 1200,1249,1250,1251,1500,4000,5000,5999,6000,6001,10000
Expert:  getsetgo replied 4 years ago.
Are you getting desired results?
Shall I explain the formula and how it works?
Customer: replied 4 years ago.
The thing is, I can not write "," Excel gives me wrong in my formula. I then tried to change it to ";" instead, but this semicolon is maybe different in what it means and hot the excelformula works - so how can I use "," te comma?
=IF(B4<=250,250,IF(B4<1200,B4,1200))


Expert:  getsetgo replied 4 years ago.
you have to write comma (,) only. Semicolon will not do.
Formula is as:
=IF(condition,value if true,value if false)
If you can not write comma in excel, write in notepad and copy paste in excel.

If you maintain same columns, you can simply copy paste this in your cell B5:

=IF(B4<=250,250,IF(B4<1200,B4,1200))

Customer: replied 4 years ago.

Hi getsetgo!

 

I am very thankful for your help!
I will most definately return with more questions in the future.

Best regards

Lars Sandheden

CEO

Expert:  getsetgo replied 4 years ago.
Thanks for accepting the answer. Yes, it was really nice working for you.

You may request me a question mentioning "For getsetgo" in subject line. I will respond as soon as I can.
Looking forward to working for you again.

Related Homework Questions