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Cap percentage at specific amount

Excel formula: Cap percentage at specific amount
Generic formula 
=MIN(A1*percent,1000)
Explanation 

To calculate a percentage based value capped at a specific amount, you can use the MIN function.

In the example shown, the formula in D6 is:

=MIN(C6*10%,1000)

How this formula works

This formula takes advantage of the fact that the MIN function works fine with small sets of data, even two values. 

Inside MIN, the value in C6 is multiplied by10%, and the result appears at the first number given to MIN. The number 1000 is supplied as the second value.

The MIN function then returns the smaller of the two values.

Replacement for IF

This formula is a clever way to avoid a more complicated IF formula. You can use the MIN and MAX functions to replace IF when you want to return the smaller or greater of two values.

Author 
Dave Bruns

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