Calculate discount based on single field

[Olivia_Hung]

Hello. I need some help with my Airtable.

I would like to do some discount calculation.

Column 1: Total price of purchased products
Column 2: single select, select Yes if customer is VIP, then will give 5% off
Column 3: optional further discount, also a single select
Column 4: Discounted price after column 3 and 4

I would like to know if I could create a formula that after I selected “yes” on column 3, then Discounted price would automatically do the calculation for me.

Thank you.

[Kamille_Parks]

{Total} * (1 - 
   IF({VIP} = "Yes", 0.05, 0) - 
   IF({Opening Discount} = "Yes", 0.05, 0)
)

^ The above formula should in result 414 * (1 - 0.05 - 0.05) => 414 * 0.9 => 372.6. The formula assumes the {Opening Discount} is also 5%.