Smaller of two values
Generic formula
=MIN(value1,value2)
Related formulas
Larger of two values
Cap percentage at specific amount
Explanation
To get the smaller, or lesser, of two values, you can use the MIN function. In the example shown, the formula in D5 is:
=MIN(B5,C5)
How this formula works
The MIN function is fully automatic - it returns the smallest value in the numbers provided. In this case, we give MIN function two values:
=MIN(B5,C5)
and MIN returns the smaller value.
Elegant alternative to IF
The MIN function can be a compact and elegant replacement for the IF function. For example, the formula above can be written with IF like so:
=IF(B5<=C5,B5,C5)
However, the MIN version is 6 characters shorter (11 vs. 17), and contains no redundant references, so it is less prone to errors.