yogi_What Can Be Used For Excel LOOKUP Function In Google Docs Spreadsheet

Yogi Anand, D.Eng, P.E.       Google Spreadsheet    Post  #702   Aug 16, 2012     www.energyefficientbuild.com.

user supermiah said: (http://productforums.google.com/forum/?zx=jxj6uj6xudu4#!category-topic/docs/spreadsheets/QHx17gtr47g%5B1-25%5D)
Substitue for LOOKUP function
I have a spreadsheet in EXCEL that has the following formula:

=IF(K2="","",K2-LOOKUP(K2,{0,700,1000,1200,1500,1700,2000,2300,2600,3600},{50,75,100,150,175,200,225,300,350}))

I use this to subtract certain dollar amounts if K2 is equal to the first parentheses. Since the LOOKUP function does not work how would I do this in google spreadsheet?

I want K2 to subtract 50 for anything 700 or less, and 75 for anything 1000 or less, and so on and so forth.

Thanks

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following is a solution to the problem -- I have also provided a formula that will work both in Google spreadsheet as well as in Excel