Right-click on the worksheet tab, go to View Code, and
paste in the code below. Press ALT+Q to close VBE.

Private Sub Worksheet_Change(ByVal Target As Range)
On Error GoTo ExitThisSub
If Not Intersect(Target, Me.[A1]) Is Nothing Then
Application.EnableEvents = False
With Target
If .Value = "A" Then
.Offset(0, 1).NumberFormat = "$#,##0.00"
Else
.Offset(0, 1).NumberFormat = "0.0%"
End If
End With
End If
ExitThisSub:
Application.EnableEvents = True
End Sub

---
HTH
Jason
Atlanta, GA

-----Original Message-----
Cell A1 is a drop down list that you select either "A"
or "P". Cell B1 is a
cell where the user enters a number. If A1 is "A" I want
the number in B1 to
show as an amount in $ whereas if A1 is "P" i want B1 to
show as a percentage.

The conditional formatting option allows me to change
fonts, borders, and
patterns but not the number format.

Any help would be appreciated

.