Basic algebra for Excel function

Question

I am working in an Excel workbook where a monetary value is displayed. This amount is the difference between two constants, and represents a shortfall in a customer's payout, for which we need to compensate customers.

I need to work out the required compensation amount from this.

Customers are entitled to some compensation only if their shortfall > £1.00. We only compensate them up to that level (shortfall - £1). We have a minimum payment amount of £0.50.

So, to calculate the compensation required, I think I need to apply the following logic to the shortfall number :-

Shortfall is greater than £1 AND Shortfall minus £1 is GREATER THAN than 50p

This is two steps and I think there is an easier, cleaner way.

I think this could be described as y = x - 1 > 0.5

I would have to use an AND function to do this, but I am sure there is a simpler way to describe this using one simpler function.

I have just completely unable to get my head around it though.

Can anyone help?

Answer 1

Shortfall is greater than £1 AND Shortfall minus £1 is GREATER THAN than 50p equates to shortfall must be greater than £1.50