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Practical 8: Goal Seek in MS-Excel

Lesson 8 of 14 in the free Statistical Analysis using Excel Lab notes on Siksha Sarovar, written by Rohit Jangra.

Theoretical: What is Goal Seek?

Goal Seek is a What-If Analysis tool in Excel that works backwards — you specify the desired result of a formula and Excel finds the input value needed to achieve it.

Location: Data → What-If Analysis → Goal Seek

When to Use: When you know the output you want but need to find the input.

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Question 1: Units Required for Target Profit of ₹1,00,000

Setup:

CellLabelValue/Formula
B1Cost Price/Unit500
B2Selling Price/Unit800
B3Units Sold100 (initial guess)
B4Profit=(B2-B1)*B3

Goal Seek Settings:

  • Set Cell: B4 (Profit)
  • To Value: 100000
  • By Changing Cell: B3 (Units Sold)

Result: Units Sold = 334 units

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Question 2: Interest Rate for EMI = ₹20,000

Setup:

CellLabelValue/Formula
B1Loan Amount1000000
B2Annual Rate8% (initial guess)
B3Tenure (months)180 (15 years × 12)
B4Monthly EMI=PMT(B2/12, B3, -B1)

Goal Seek Settings:

  • Set Cell: B4 (EMI)
  • To Value: 20000
  • By Changing Cell: B2 (Annual Interest Rate)

Result: Required annual interest rate ≈ 5.1%

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Question 3: Final Exam Marks to Achieve 75% Overall

Setup:

CellLabelValue/Formula
B1Marks so far360
B2Final Exam50 (initial guess)
B3Total Marks=B1+B2
B4Total Possible500
B5Percentage=B3/B4*100

Goal Seek Settings:

  • Set Cell: B5 (Percentage)
  • To Value: 75
  • By Changing Cell: B2 (Final Exam Marks)

Result: Final Exam Marks required = 15 marks

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Question 5: Simple Interest – Goal Seek Simulation

Formula: A = P + (P × R × T) / 100

Setup:

CellLabelValue/Formula
B1Principal50000
B2Rate (%)8
B3Time (Yr)3
B4Amount=B1+(B1B2B3/100)

Goal Seek Scenarios:

  1. Find P for Amount = ₹75,000: Set B4=75000, Change B1
  2. Find R for Amount = ₹65,000: Set B4=65000, Change B2
  3. Find T for Amount = ₹80,000: Set B4=80000, Change B3