Use MIN MAX to Alternate IF 1

Take a look at this case and think about how are you going to solve it without using IF / AND or any other Logical function

 

Case 1

Use MIN MAX to Alternate IF

 

Case 2

Use MIN MAX to Alternate IF 2

 

DOWNLOAD THE CASES HERE – and give it a shot solving it without using IF/AND or any logical function. Do not scroll down till you give it a reasonably good shot at solving them 😀

 

The Solution

The smart and optimized way to solve this is to use the MIN function for Case 1

Use MIN MAX to Alternate IF 3

All I am doing is

  1. Finding the MIN of Loan and Income – because that is what we are paying off
  2. Subtracting that from Loan amount to get the balance

 

Here is how you can solve the 2nd case using the MAX Function

Use MIN MAX to Alternate IF 4

  1. (D17- C17)*$E$15 is going to give me the tax payable (Profit x Tax Rate)
  2. I then use the MAX Function to limit tax payable to 0 (zero) if it is a negative number

Smart huh? 😎

 

DOWNLOAD THE SOLVED CASE HERE

 

Where can you replace the IF function with MIN or MAX Logic?

Wherever you want the smaller or the greater of the 2 numbers (or even a formula) try using the MIN or MAX function rather than writing a long IF statement.

The result will be = smarter logic and smaller formula

 

Have you used MIN MAX Logic before?

Please let me know if you have been using the IF function which can now be changed to a smarter MIN MAX logic or if you already are pro at this?

 

Other Everyday Formulas to help you save time

  1. Learn IF, NestedIF and Boolean Logic
  2. How to Inverse your data
  3. Find the shift timing (approximate VLookup) – Case and Shift Timing Solution
  4. 10 Tips to write better Excel Formulas
  5. 7 Date formulas to make life easy

 



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