In high school...
...I used to solve mathematical equations...
...where I have the result of the equation...
..but don’t have the input value.
So, if you think about to solve the same kind of problems in Excel, you have a specific tool which can help you.
Its basic idea is to find the input value which a formula needs to get that result.
In simple words, if you know what actual result value you want, you can use goal seek to find the best input value for getting it.
Let’s say you need to borrow some money from your friend.
You know how much money you need, how long you want to take to pay off the loan, and how much you can pay each month.
You can use goal seek to calculate the interest rate you will need to secure with your friend.
There is n number of complex problems which you can solve with goal seek.
So today, in this post, you’ll learn how to use goal seek in Excel, how it works and what are the important points you need to take care.
Let's get started.