Function Type: Logical
IF is one of the most popular functions in Excel. It checks if the condition is met then it returns a value. It is used to return one value if the logic is true and another value if false.
=IF(logical_test, [value_if_true], [value_if_false])
logical_test – This is where you put the condition that you want to be checked. In order to specify our logic, we need to use Logical Operators. This argument returns either true or false. E.g. C14 > 5000
value_if_true – This is the value that excel will return when the logical test is true. It can be optional when value if false is present.
value_if_false – Otherwise, this is the value that excel will return when the logical test is false. It can be optional when value if true is present.
The formula for C2 =IF(B2>=30000,”Approved”,”Declined”)
This means that IF the value in B2 is greater than or equal to 30,000 Excel will return the text “Approved”. IF not, it will return “Declined”.