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Calculate discount based on single field

Topic Labels: Formulas
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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.

Screenshot 2021-10-17 at 11.50.59 PM

Thank you.

1 Reply 1
{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%.