Saturday, March 19, 2011

Microsoft Office Tips - Using percentage formula in Excel

My daily job requires me to issue a quotation to customer. In most cases I need to calculate how many percent I should increase the price.

Using a normal calculator or windows calculator to calculate percentage or adding a percentage is easy.

For example, I purchase a 98.00 dollar RAM and sell it  35% higher. Using a calculator, I will just press 98 then + then 35 then % then =. I got 132.2.

This is easy if it's only for 1 item. But if I need to calculate a few item, then I will start making a mistake.

A friend had thought me using Microsoft Excel formula and here's 2 type of calculation involving percentage that I will use when preparing a quotation with Microsoft Excel.

1. Calculate Percentage by deciding selling price.
Using this formula, I will need to play around with my selling price to get the percentage.
The formula is: =(Price-Cost)/Cost

2. Calculate selling Price by deciding Percentage
Using this formula, will need to decide how many percent I want to increase or maybe decrease my selling price.
The Formula is: =Cost*(1+Percentage)
Please note that in the example, Price and Cost cells is Number formatted, while Percentage cells is Percentage formatted.

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