
Problem Solving Examples 111
We could have written the formula using names for different variables. Certainly, a
formula, shown below, with meaningful names for variables is more comprehensible.
=IF(Hours_Worked>40,IF(Hours_Worked>50,2*Hourly_
Rate*(Hours_Worked-50)+1.5*Hourly_Rate*10+Hourly_Rate*40,
1.5*Hourly_Rate*(Hours_Worked-40)+Hourly_Rate*40),
Hourly_Rate*Hours_Worked)
You should note that the single formula used above is not the only way to calculate the
salary. We can, for example, calculate separately the regular pay and the overtime pay
in two adjacent columns and then add them to get the total pay for each employee. This
may be better ...