Increment a cell value until it satisfies a criteria and stop and retain the minimum value

1 2 0.01 Fail
2 3 0.01 Fail
3 4 0.01 Fail
4 5 0.01 Fail
5 6 0.01 Fail
6 7 0.01 Fail
7 8 0.01 Fail
8 9 0.01 Fail
9 10 0.01 Fail
10 11 0.01 Fail
11 12 0.01 Fail
12 13 0.01 Fail

increments should be in 0.01 only and once it reaches 1.01 the loop should end and C value should remain 1.01,
suggest me a function.

Thanks in advance.

thanks for quick response, pl find the attachment