Here we discuss how to add the Solver Add-in Tool and how to Solve equations with Solver Add-in Tool in excel. This is a guide to Solve Equation in Excel.
Goal Seek: It is an inbuilt function in excel under What-If Analysis, which helps us solve equations to source cell values until the desired output is achieved.
What-If Analysis: It is also used to solve equations & data analysis, wherein it allows you to try out different values (scenarios) for formulas to get the desired output.
Most of the third party excel add-in program is available, that provides to solve equations & data analysis tools for statistical, financial and engineering data and Other tools & function which are used to solve equations in excel are: Things to Remember About Solve Equation in Excel Now, you will observe a change in the value in the cell D2 (Cost or stockiest Price per unit) and D3 (Selling Price per unit to customers) to 1600 respectively to get the 20% Profit. It will ask whether you want to keep the solver solution along with original values you can Select these options based on your requirement here, in this scenario, I have selected Keep Solver Solution and click on the “Ok” button. Now, we added all the parameters just we need to click on solve. Selling Price per unit to customers, it is added by inputting the cell reference & constraint value, which is either less than or equal to 20,000 (<=20000) Now it gets reflected under Subject to the Constraints box, again we need to click on add to add one more constraint, i.e. Excel creates each report on a new worksheet with an appropriate name. Create any or all three reports that describe what Solver did (press Shift to select multiple reports from this list). Restore the original changing cell values.
Constraints: D2 should be >= 16,000 and D3 should be =16000) Replace the original changing cell values with the values that Solver found.
Variable Cells: C2 (Cost or stockiest Price per unit) and C3 (Selling Price per unit to customers).
Target Cell: D4 (Profit %) should give a 20% profit.
So, for that, I need to find out the Cost or stockiest Price per unit & Selling Price per unit to customers needed to achieve a profit of 20%. Now, my target is to take the percentage profit (%) per unit to 20%. Variables (B2, B3 & C2, C3): Here, variables are Cost or stockiest Price per unit & Selling Price per unit to customers, which keeps on changing month on month. ((Selling price per unit – Stockist price per unit)/ Stockist price per unit) *100 Here, B4 & C4 is the percentage profit for the month of April & May 2019, which is calculated with the help of the below-mentioned formula. Now, I have April & May month with a percentage profit for each unit, i.e. GRG Nonlinear and Evolutionary are best for nonlinear problems, while Simplex LP is limited only to linear problems. There are three methods or algorithms to choose from: GRG Nonlinear. In the above-mentioned table, the monthly sales data of price per unit, containing Cost or stockiest Price per unit & Selling Price per unit to customers. One of the things you must choose when you are setting up Solver in Excel is the solving method.