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Excel If Cell Dropdown is selected, then price in Cell 2 Dropdown is decreased by a certain amount

I have created a dropdown of percentages. The list is cells A1:A3 and the dropdown is cell B5.

Price Dropdown List

City Dropdown List

I want the selection in B5 to change if the user selects a city in cell B6

Example:

  • User selects 0% in B5
  • User selects Chicago (-10%) in B6

Output: -10% (0%-10%=-10%)

What I have tried: I wrote the following in cell B5 =IF($B$5=”Chicago”,”0%-10%”)

I will have different price decreases for each city. I am unsure how to use this formula when there is a dropdown.