How to apply differing multiples to one value

If a column has a single numerical value, say 10.85, and one multiple, 10, needs to apply to part and another multiple, 15, to the remainder (and if the threshold is not reached for the second multiple each time), how would this formula be written?

This is number of hours worked in one day. The first 8 hours would be standard pay rate and the amount over 8 hours would be overtime pay rate. For example:

An employee earns a standard pay rate of $10 per hour and an overtime pay rate of $15 per hour. The total number of hours in a particular day is entered into cell D2. For this first example the employee did work more than the standard number of hours.

Column D2 has the value 10.85

Column E2 needs to reflect the value of $122.75

$122.75 is the sum of ((8.00 * 10) + ((10.85-8.00) * 15))

A second example is if the employee does not exceed 8 hours of work the next day:

Column D3 has the value of 6.50

Column E3 needs to reflect the value of $65.00

$65.00 is the sum of ((6.50 * 10) + (this needs to equal zero since hours do not exceed 8))


How can this formula be applied so that if hours worked is less than or equal to 8.00 a multiple of 10.00 applies and if the hours worked is greater than or equal to 8.01 then a multiple of 10.00 applies to the first 8.00 hours and is added to the amount of the value that exceeds 8.00 and a multiple of 15.00.

Thank you alansidman!

I see the error in the formula I had written. However, I edited your formula to =IF(D2>8,(D2*10)+(D2-8)*5,D2*10) to make it work. Thank you again! I am new to the forum and would like to express my appreciation; where do I find the star mentioned in your signature?