Approximate match in Vlookup function help us to find closest result.
Below table showing percentage of commission for salesman’s based on the number of Products sold. If number of product less than 20 then no commission is given and 20% is given if 80 or more but less than 100 products are sold.
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Now add one “No. of Product Sold” column in the commission table in ascending Order.
Now applies the vlookup formula VLOOKUP(D7,$H$15:$I$19,2,TRUE) as shown in the below screenshot.
TRUE in the 4th Parameter will return the approximate match. An approximate match returns what Excel interprets as the closest result to what you have looked up.