Use Percentage otherwise a fixed amount... IF

Hello everyone,

This is driving me nuts so can someone help, please? lol

This is what I'm trying to achieve as a function in a cell, which has a (£) figure being calculated into it.

3% of purchase or 4K whichever is greater

So, for example...

The figure can never go below £4K, but if the [cell containing purchase price] works out to be more than 4K based on 3% of [cell containing purchase price] use the 3% figure it will be greater than 4K.

This doesn't work =MIN(A2*3%,4000)

Hope I explained that correctly lol

Many thanks in advance from a newbie

Use MAX instead of MIN - you want the greater of the two values.

Hope this helps.

Pete