Excel Function: BYROW
The BYROW function applies a LAMBDA function to each row and returns an array of results.
The objective here is to list with a single formula the lowest rate for each item:
Start by entering the BYROW function followed by the array that contains the different rates:
Then add the LAMBDA function and choose a variable name (for example "rates"):
And finally, add the MIN function to get the lowest rate:
The BYROW function will then go through the entered array (B2:D9) row by row and return the smallest value among those of the current row: