Assign value in formula field on basis of picklist value

Question

I want to create one formula field and i want to assign value to it on base of picklist value.

for example there is one field name property_status_c(picklist) and formula field count_c.

How can i do like if in my record, Property_status_c = submitted, Then i want to assign 1 to count_c. count_c=1.

Answer 1

Create a formula field of type 'number'. In the formula field, put an IF statement or, even cleaner, a CASE:

CASE(Property_status_c,
    'submitted',1,
    'close',1,
    0
)