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51 Most Used Excel Formulas

This document lists and explains 51 of the most commonly used Excel formulas. These formulas cover a wide range of applications including basic calculations, data manipulation, text formatting, date/time functions, financial calculations, conditional statements, lookup/reference operations, statistical analysis, and more. Excel's versatility makes it a powerful tool for data analysis and management across many industries. Some of the most useful formulas include SUM, AVERAGE, COUNT, IF, VLOOKUP, DATE, and INDEX-MATCH. Formulas can be combined and nested to perform complex calculations and data analysis.

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137 views4 pages

51 Most Used Excel Formulas

This document lists and explains 51 of the most commonly used Excel formulas. These formulas cover a wide range of applications including basic calculations, data manipulation, text formatting, date/time functions, financial calculations, conditional statements, lookup/reference operations, statistical analysis, and more. Excel's versatility makes it a powerful tool for data analysis and management across many industries. Some of the most useful formulas include SUM, AVERAGE, COUNT, IF, VLOOKUP, DATE, and INDEX-MATCH. Formulas can be combined and nested to perform complex calculations and data analysis.

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Most Commonly Used Excel Formulas and Explanations

These formulas cover a range of applications, including basic calculations, data


manipulation, text formatting, date and time functions, financial calculations,
conditional statements, lookup and reference operations, statistical analysis, and
more. Excel's versatility makes it a powerful tool for data analysis and
management in various industries and professions

1. SUM: Calculates the sum of a range of numbers. Useful for adding up a


column or row of values.
2. AVERAGE: Computes the average of a range of numbers. Useful for
finding the mean of a dataset.
3. COUNT: Counts the number of cells in a range that contain numbers.
Helpful for determining the quantity of data points.
4. MAX: Returns the highest value from a range of numbers. Useful for
finding the maximum value in a dataset.
5. MIN: Returns the lowest value from a range of numbers. Helpful for
finding the minimum value in a dataset.
6. IF: Evaluates a condition and returns one value if true and another if
false. Used for logical tests and creating conditional formulas.
7. VLOOKUP: Searches for a value in the leftmost column of a table and
returns a corresponding value from a specified column. Useful for
retrieving information from large datasets.
8. CONCATENATE: Joins multiple text strings into one. Helpful for
combining data from different cells into a single cell.
9. DATE: Creates a date using individual year, month, and day components.
Used to manipulate and format dates within Excel.
10.COUNTIF: Counts the number of cells in a range that meet a specific
criterion. Useful for counting cells based on specified conditions.
11.HLOOKUP: Similar to VLOOKUP, but searches horizontally instead of
vertically.

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Most Commonly Used Excel Formulas and Explanations

12.LEFT: Extracts a specified number of characters from the left side of a


text string.
13.RIGHT: Extracts a specified number of characters from the right side of a
text string.
14.MID: Extracts a specified number of characters from the middle of a text
string.
15.LEN: Returns the length of a text string.
16.TRIM: Removes excess spaces from a text string.
17.PROPER: Capitalizes the first letter of each word in a text string.
18.LOWER: Converts a text string to lowercase.
19.UPPER: Converts a text string to uppercase.
20.TODAY: Returns the current date.
21.NOW: Returns the current date and time.
22.TIME: Creates a time using individual hour, minute, and second
components.
23.NETWORKDAYS: Calculates the number of working days between two
dates, excluding weekends and specified holidays.
24.PMT: Calculates the monthly payment for a loan based on interest rate,
loan amount, and loan term.
25.FV: Calculates the future value of an investment based on a constant
interest rate and periodic payments.
26.NPV: Calculates the net present value of an investment based on a series
of cash flows and a discount rate.
27.IRR: Calculates the internal rate of return of an investment based on a
series of cash flows.
28.COUNTIF: Counts the number of cells in a range that meet a specific
criterion.
29.SUMIF: Adds up the cells in a range that meet a specific criterion.

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Most Commonly Used Excel Formulas and Explanations

30.AVERAGEIF: Calculates the average of the cells in a range that meet a


specific criterion.
31.COUNTIFS: Counts the number of cells that meet multiple criteria.
32.SUMIFS: Adds up the cells that meet multiple criteria.
33.AVERAGEIFS: Calculates the average of the cells that meet multiple
criteria.
34.INDEX: Returns the value of a cell in a specified row and column of a
range.
35.MATCH: Searches for a specified value in a range and returns its relative
position
36.INDEX-MATCH: Combines the INDEX and MATCH functions to
retrieve a value from a table based on matching criteria.
37.RAND: Generates a random number between 0 and 1.
38.RANK: Returns the rank of a number in a list of numbers.
39.ROUND: Rounds a number to a specified number of decimal places.
40.SUMPRODUCT: Multiplies corresponding components in arrays and
returns the sum of those products.
41.TEXT: Formats a number or date as text using a specified format.
42.SUBSTITUTE: Replaces occurrences of a specific text string within a
larger text string.
43.WEEKDAY: Returns the day of the week for a given date.
44.OFFSET: Returns a range of cells based on a specified number of rows
and columns from a given starting point.
45.INDIRECT: Converts a text string into a cell reference.
46.TRANSPOSE: Transposes the rows and columns of a range of cells.
47.ISBLANK: Checks if a cell is empty and returns TRUE or FALSE.
48.ISERROR: Checks if a cell contains an error value and returns TRUE or
FALSE.

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Most Commonly Used Excel Formulas and Explanations

49.ISNUMBER: Checks if a cell contains a numeric value and returns


TRUE or FALSE.
50.SUMPRODUCT: Calculates the sum of the products of corresponding
values in multiple arrays.
51.PIVOT TABLE: Creates a summary table from a large dataset, allowing
you to analyze and summarize data quickly

These are just a few examples, and Excel offers many more formulas and
applications. Formulas can be combined and nested to perform complex
calculations and data analysis tasks. Excel is widely used in various fields,
including finance, accounting, data analysis, project management, and more, to
organize, analyze, and present data effectively.

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