🔥 **Excel IF AND OR Formula – Step-by-Step Guide (Bonus Calculation Example)** Learn how to combine **IF, AND, OR** in Excel for **automatic decision-making**—perfect for bonuses, approvals, and data filtering! #### **🔹 How It Works:** 1️⃣ **IF** = Checks a condition (e.g., "Bonus" or "No Bonus"). 2️⃣ **AND** = **All** conditions must be TRUE (e.g., **Sales > 10K AND Tenure ≥ 2 years**). 3️⃣ **OR** = **Any one** condition can be TRUE (e.g., **High Sales OR Excellent Performance**). #### **📌 E