Stuck with a Formula

I'm trying to create a formula depending on a certain cells value, it will get multiplied by a certain amount, this is as close as i have got;

=SUMIF(Targets!B7,"<="&7499)*(0.01)+SUMIF(Targets!B7,">="&7500)*(0.03)+SUMIF(Targets!B7,">="&10000)*(0.04)+SUMIF(Targets!B7,">="&12500)*(0.05)

The problem I am having with the above formula is that the sums all add up and i dont want them too.... so say if the value in cell "Targets!B7" is 12,400 the formula will multiply it 0.04 and by 0.05 then add them together.

Is there a way round this where it only multiplies it by one and doesnt add them all up?

Basically i am trying to get a percentage of certain revenue brackets, so i need the formula to include 1% of any value under £7500, 3% of any value between £7500-£10,000, 4% of any value between £10,000-£12,500, 5% of any value between £12,500-£15,000, 6% of any value between £15,000 and £20,000 and 7% of any value above £20,000

Thanks in advance!

welcome to the forum

For future reference, please take a moment to read the forum rules and use thread titles that are descriptive of your problem - not what you think the answer might be. (think google search terms?).

Many members search our previous posts, and thread titles play a big part of the search. I doubt anybody would do a search based on your title?

Hi Ryanleemc,

Welcome to the forum!

I always refer to this link for queries like yours. Link

Hope it helps,

Snook

Sorry I just was that confused with the formula that i didnt know what to ask for in the title

Im really struggling with the link, its making my head hurt

If you post a workbook with an example of the data that you're working with someone will be able to assist you. I'm in a meeting this afternoon but if I get chance later on I'll take a look.

Snook

PS - Change the thread title to something more relevant like 'Formula to calculate variable rates', it'll save you a telling off from the forum police!

Administrative Note:

Welcome to the forum.

We would very much like to help you with your query, however the thread title does not really convey what your request is about.

Please take a moment to amend your thread title. Make sure that the title properly explains your request. Your title should be explicit and not be generic (this includes function names used without an indication of what you are trying to achieve).

Please see Forum Rule #1 about proper thread titles and adjust accordingly. To edit the thread title, open the original post to edit and then click on Go Advanced (bottom right) to access the area where you can edit your title.

(Note: this change is not optional. No help to be offered until this moderation request has been fulfilled.)