Learn [Goal Seek] in Excel in 5 minutes

What is Goal Seek?

Goal Seek is an excel function that allows us to achieve the desired result by adjusting any of the Input values, the one we wish to, and have an impact on the desired result.

Problem

Suppose our Business has a profit of ₹30,000. Now we wish to set a new profit goal of ₹35,000 and see at what price that can be achieved (keeping the number of units sold constant in this case).

Solution

Step1: Go to the Data tab and select What-if Analysis

Step2: Now choose Goal Seek

Step3: Select Net Profit(₹30,000) in the Set cell.

Step4: To value = 35000 (Goal)

by changing value = Sp per unit (₹10)

Step5: Press OK

You will get your desired result

* Now SP per Unit changed to (₹11)

means we need to sell our product at Rs. 11 to get the profit of ₹35,000.

We can keep the price constant and change the other factors affecting the profit.