(Excel) If cell is greater than

I can't find any information regarding this on the internet.

I am creating an Excel spreadsheet.

• In Cell B4 I have a number in currency format
• In Cell B6 I have another number in currency formant
• In Cell B5 I want to minus a percentage from Cell B6 if the number in Cell B4 is greater than 300, I want Cell B5 to then display the total that was subtracted.

For example.

Bob earns $450 a fortnight as a subcontractor. Bob also receives $660 in Student Allowance a fortnight. When Bob earns over $300 a fortnight. as a subcontractor, his student allowance will reduce by 0.60 cents in each dollar over $300.

Using Excel, what is the formula to calculate the remaining amount in Bob's student allowance?

I have tried the below, but it doesn't work.

IF B4>300-60% from B6