finding out if a value exists in a list within low and high values

in Sheet 1 , I have a list of numeric values and a YES /NO flag
In Sheet2 , I have 2 columns with a MIN & MAX values

For example in Sheet1
ZONE FLAG
1200 n
4552 n
5433 y
555 y
2525 n

In Sheet 2 (Zones)
I have 2 values , lower limit and upper limit

1100 1100
2200 2230
3400 3450
54300 54400
500 600

If 1200 is >=1100 and <=1100 Flag = Y else N and so on for the entire list in sheet 2
If the value in sheet 1 falls within any of those MIN and MAX value then the flag has to be set to Y Else N

I know VB and I m trying to avoid writing that in VB .
I am sure Excel can handle this , so please any help or suggestions is appreciated
Thank you

Assuming 5433 in row 4 is meant to be 54330 or something?

Try in C2:

=IF(MAX(IF((B2>=ZONES!$A$1:$A$5)*(B2<=ZONES!$B$1:$B$5),1,0))=1,"y","n")

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