We have already seen VLookup function with example and precautions need to be taken while using VLookUp function.
In our students marks example we have used last parameter of the VLookUp function as 0 (False), that means exact match. Most of the cases we use exact match (0) as last parameter. But in some cases we use True (1) as VLookUp last parameter which is approximate match.
When we use 1 (True) as a last parameter of VLookUp function
If the last parameter of the VLookUp function is 1. It is considered as approximate match. That means if the exact value is not found in the first column of the range, it searches for the next lower value. If next lower value exists it displays the given column value of that range against the lookup value.
For example in our Students example only 5 Student Numbers are exist. For sixth Student Number it displays #N/A, if last parameter is 0. But if we use last parameter as 1 it displays the value against the Student Number 5. Because for Student Number 6 next lower is 5. If we use Student number 1 #N/A will display because next lower value for Student number 1 is not available in the range. Observe the selected part of the above image.
Generally, in most of the cases we use exact match (0 – False). In some cases where operations deals with decimals points we should use (1 – True) as a last parameter of VLookUp function.