The IF Function in Excel

The IF Function in Excel can be used to calculate whether the cell contents of a selected cell meets certain criteria and then perform a calculation IF it meets the specified criteria.

The function includes a Logical Test to see whether the selected cell falls within specified criteria and then performs a calculation depending on whether it meets the criteria in the logical test.

=IF(Logical Test, Value if true, Value if false)

For example:

If the value of a cell is less than 6, add by 4, if not, add by 2

=IF(B1<6,B1+6,B1+2)

You can calculate interest on a savings account depending on its worth by entering in the following values:

In cell B4, we want to apply an interest of 2% if the amount saved is less than €40 and an interest rate of 4% if the amount saved is greater than €40

=IF(B3>40,B3*4%,B3*2%)

This function has calculated the interest as being €2 e.g. 4% of €50 because the selected cell B3 was greater than €40.

If the amount in cell B3 was less than €40, only 2% of the amount would be calculated and so the answer would have been €1.

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