Page 42 - Touchpad_Plus_V3.2_Class 7
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GOAL SEEK
Suppose a person wants to earn an income of ` 21,000 as simple interest after four years. The
person wants to understand that how much principal must be invested @ 7.5% per annum to
earn this income.
The person can use hit and trial method and try different principals to calculate the interest. This
is time consuming. The Goal Seek feature of Calc simplifies this process by finding the required
input value for a formula to produce a specified result, automatically recalculating and adjusting
the dependent variable.
Perform the following steps to apply the Goal Seek feature:
Step 1 Enter the investment details of the person with ` 1,000
as principal, 7.5% as rate of interest and 4 years as
time. Remember to use formula to calculate Simple
Interest.
Entering sample data
Step 2 In Cell B5, enter the formula for Simple Interest:
=(B1*B2*B3)/100
Step 3 Click on the Tools menu.
Step 4 Select the Goal Seek option. The Goal Seek dialog box appears.
Step 5 In the Goal Seek dialog box, enter:
Address of the cell where the desired output is needed in the Formula cell text box.
In this case, enter $B$5.
Value that is needed in the cell in Target value text box. In this case, enter 21000.
Address of the cell in which value is to be changed in the Variable cell dialog box.
In this case, enter $B$1.
Step 6 Click on the OK button. This will open a Goal Seek Status box on the screen showing
the required amount of principal.
Using Goal Seek Goal Seek dialog box
Step 7 In the Goal Seek Status box, click on Yes button to keep the new results or click on
No button to return to the original data.
40 Plus (Ver. 3.2)-VII

