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Tiered pricing for vehicle rental using SUMPRODUCT

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    Tiered pricing for vehicle rental using SUMPRODUCT

    As titled.

    Was introduced to tiered pricing use for sumproduct via an example on another post:
    =SUMPRODUCT(--(F2>{0,1000,2000}),--(F2-{0,1000,2000}),{0.4,-0.1,-0.1})

    Where I do understand the F2 will be the number of things I'm trying to count, in my case miles, and that the final {0.4,-0.1,-0.1} will be the rates for each tier. But what I don't quite understand is what's going on exactly in the other two chunks
    (--(F2>{0,1000,2000}),--(F2-{0,1000,2000})

    Ultimately trying to use the values of:
    0-50 km: $10 / mile
    51-150: $9
    151+ : $8

    But wanting to better understand what each part of the formula is doing to level up my Excel knowledge while solving the problem too

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    Re: Tiered pricing for vehicle rental using SUMPRODUCT

    Take a look here

    http://www.mcgimpsey.com/excel/variablerate.html

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    Re: Tiered pricing for vehicle rental using SUMPRODUCT

    Hi ouboss,

    This is the article I always reference for these types of scenarios.

    Tiered Pricing Formula

    Regards,

    Snook

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    Re: Tiered pricing for vehicle rental using SUMPRODUCT

    Lol, great minds JohnTopley. It's one of my very few bookmarks.

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    Re: Tiered pricing for vehicle rental using SUMPRODUCT

    Looking now. Thanks guys

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    Re: Tiered pricing for vehicle rental using SUMPRODUCT

    Figured it out with that page's help. If anyone comes across this in search and uses that page too, my key tip is to pay extra attention to {} vs () and to dRate.

    Thanks again 🍻

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    Re: Tiered pricing for vehicle rental using SUMPRODUCT

    Please update your profile with your Location as answers can require consideration of local differences in Excel.

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