I want to create a formual that will multiply two cells. Now there need to be a couple of criteria to fulfill this formula. First one cells (c1) value is always 100 the other (c2) will be 60-inputed value. Now C2 must be less than 60 ( c2<60) and finally the value must not exceed 1000. So in otherwords every number below 60 and at or above 50 will be multiplied by 100

Well, this is the formula that follows your logic, but you said the result couldn't be higher than 1000, and EVERY number between 50 and 60 multiplied by 100 is more than 1000.

Anyway:

=IF(AND(C2>=50,C2<60),C1*C2,"Invalid")