Goal Seek

Learning Objectives What is Goal Seek? Where and when we use this? How to use ?

What is Goal Seek? Goal Seek is a powerful tool used for What-If analysis in Microsoft Excel. It lets you start with the desired result and it calculates the input value that will give you that result. This feature can help you   experiment  and  answer questions  with your data, even when the data is incomplete.

Where and when you use this? When you create a formula or function in Microsoft Excel, you put various parts together to calculate a result. Goal Seek works in the opposite way. It lets you start with the desired result and it calculates the input value that will give you that result.

Example Let us say you currently have an average score of 70 in mathematics. You need at least 80 to participate in interschool math quiz. Luckily you have one final assignment that might be able to raise your average. To find what grade you need on the final assessment to pass the class, you can use Goal Seek.

How to use this tool? https://www.gcflearnfree.org/excel2010/using- whatif- analysis/1/ZyehZAbj9Iw?version=3&autoplay =1&iv_load_policy=3&fs=1&hl=en_US&rel= 0

Let us practise ABC Company has made a profit of Rs.500000 this year. They have set a new profit goal of Rs. 700000 for the next year. At the moment, they are selling 1000 items at Rs.500 each. The next year also they plan to sell 1000 items. To hit the new profit of Rs. 700000 by how much do they have to raise the price? Create the spreadsheet using the data given and find a solution with Goal Seek.