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Getting approximate table data with the VLOOKUP function

Getting approximate table data with the VLOOKUP function - Microsoft Excel Tutorial

From the course: Excel 2013 Essential Training

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Getting approximate table data with the VLOOKUP function

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One of Excel's most powerful functions is the VLOOKUP function. It has a companion function called HLOOKUP. V means vertical, H means horizontal. VLOOKUP allows us to look up information and compare it with the left column of a vertical table. In column E, we want to look up the reduction for certain items that have been priced in column D. For example, if the subtotal, as we see it here, is 1363, if we were looking in this table we would be saying for example, It hasn't reached to 1500 so it's not 4.5%. It's at a thousand therefore it's going to be 3%. The VLOOKUP function has two major forms. One of them is an exact match. We don't need that here. That would be for situations for example where you're trying to look up text entries or ID type numbers or we're trying to find something exactly. We wouldn't expect to find this number, the 1363 or any of these in this list although certainly one or two of them might be. And so the idea here is when we use VLOOKUP on a table, that table…

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