nested IFs

Karat · Post by **Karat** » 28 Jul 2010, 20:08

Hi there
I have a workbook and I have to calculate tax.

For instance the price of an item is $100 (inclusive) and the tax is 12.5%, but it can also be 15% or 0%.
I have the percentages as dropdowns.
I started
=IF(E6=12.5%,D6/1.125-D6)=IF(E6=15%,D6/1.15-D6)=IF(E6=0%,D6,0)

D6 is the amount inclusive of tax. What's gone wrong because it says FALSE

Thanks heaps

Post by **HansV** » 28 Jul 2010, 20:15

Hi Karat,

You don't need IF for this, you can simply use

=D6*E6/(1+E6)

This will work for any percentage in E6.

Karat · Post by **Karat** » 28 Jul 2010, 20:41

Akways easy when you do it.
Thanks heaps

Don Wells · Post by **Don Wells** » 28 Jul 2010, 20:55

Karat wrote:Akways easy when you do it.
Thanks heaps

For future reference, the syntax for nested IFs would be:

=IF(E6=12.5%,D6-D6/1.125,IF(E6=15%,D6-D6/1.15,IF(E6=0%,0,"Unacceptable Tax Rate")))

Goshute · Post by **Goshute** » 29 Jul 2010, 13:56

HansV wrote:=D6*E6/(1+E6)

Funny. I have been using this form for years: =D3*(1/(E3+1)-1)

Post by **HansV** » 29 Jul 2010, 14:12

Goshute wrote:Funny. I have been using this form for years: =D3*(1/(E3+1)-1)

It's basically the same (apart from the sign):

x252.png

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