Mastering Excel formulas is a crucial skill for anyone working with data, whether you're a student, a professional, or a small business owner. With the right formulas, you can perform calculations, analyze data, and create powerful spreadsheets that help you make informed decisions. In this article, we'll provide you with a handy cheat sheet of 20 essential Excel formulas that you can use to improve your productivity and take your spreadsheet game to the next level.
Basic Arithmetic Formulas
These formulas are the building blocks of any spreadsheet. They're used to perform basic arithmetic operations like addition, subtraction, multiplication, and division.
1. SUM Formula
The SUM formula is used to add up a range of cells.
=SUM(A1:A10)
- Adds up the values in cells A1 through A10.
2. AVERAGE Formula
The AVERAGE formula is used to calculate the average of a range of cells.
=AVERAGE(A1:A10)
- Calculates the average of the values in cells A1 through A10.
3. PRODUCT Formula
The PRODUCT formula is used to multiply a range of cells.
=PRODUCT(A1:A10)
- Multiplies the values in cells A1 through A10.
4. COUNT Formula
The COUNT formula is used to count the number of cells in a range that contain numbers.
=COUNT(A1:A10)
- Counts the number of cells in the range A1 through A10 that contain numbers.
Logical Formulas
These formulas are used to perform logical operations like IF statements and comparisons.
5. IF Formula
The IF formula is used to test a condition and return one value if true and another value if false.
=IF(A1>10, "Greater than 10", "Less than or equal to 10")
- Tests the value in cell A1 and returns "Greater than 10" if it's greater than 10, and "Less than or equal to 10" otherwise.
6. IFERROR Formula
The IFERROR formula is used to return a value if an error occurs.
=IFERROR(A1/B1, "Error: Division by zero")
- Divides the value in cell A1 by the value in cell B1 and returns "Error: Division by zero" if the result is an error.
7. IFBLANK Formula
The IFBLANK formula is used to return a value if a cell is blank.
=IFBLANK(A1, "Blank cell")
- Returns "Blank cell" if the cell A1 is blank.
Text Formulas
These formulas are used to manipulate text strings.
8. CONCATENATE Formula
The CONCATENATE formula is used to join two or more text strings together.
=CONCATENATE(A1, " ", B1)
- Joins the text strings in cells A1 and B1 with a space in between.
9. LEN Formula
The LEN formula is used to return the length of a text string.
=LEN(A1)
- Returns the length of the text string in cell A1.
10. LOWER Formula
The LOWER formula is used to convert a text string to lowercase.
=LOWER(A1)
- Converts the text string in cell A1 to lowercase.
Date and Time Formulas
These formulas are used to manipulate dates and times.
11. TODAY Formula
The TODAY formula is used to return the current date.
=TODAY()
- Returns the current date.
12. NOW Formula
The NOW formula is used to return the current date and time.
=NOW()
- Returns the current date and time.
13. DATEDIF Formula
The DATEDIF formula is used to calculate the difference between two dates in a specified interval (days, months, or years).
=DATEDIF(A1, B1, "D")
- Calculates the difference between the dates in cells A1 and B1 in days.
Lookup and Reference Formulas
These formulas are used to look up values in a table or range.
14. VLOOKUP Formula
The VLOOKUP formula is used to look up a value in a table and return a corresponding value from another column.
=VLOOKUP(A2, A:B, 2, FALSE)
- Looks up the value in cell A2 in the first column of the range A:B and returns the corresponding value from the second column.
15. INDEX/MATCH Formula
The INDEX/MATCH formula is used to look up a value in a table and return a corresponding value from another column.
=INDEX(B:B, MATCH(A2, A:A, 0))
- Looks up the value in cell A2 in the first column of the range A:A and returns the corresponding value from the second column.
Statistical Formulas
These formulas are used to perform statistical calculations.
16. MAX Formula
The MAX formula is used to return the maximum value in a range of cells.
=MAX(A1:A10)
- Returns the maximum value in the range A1 through A10.
17. MIN Formula
The MIN formula is used to return the minimum value in a range of cells.
=MIN(A1:A10)
- Returns the minimum value in the range A1 through A10.
18. STDEV Formula
The STDEV formula is used to calculate the standard deviation of a range of cells.
=STDEV(A1:A10)
- Calculates the standard deviation of the values in the range A1 through A10.
Financial Formulas
These formulas are used to perform financial calculations.
19. PMT Formula
The PMT formula is used to calculate the payment amount for a loan based on the interest rate, loan amount, and number of payments.
=PMT(A1, B1, C1)
- Calculates the payment amount for a loan with an interest rate in cell A1, a loan amount in cell B1, and a number of payments in cell C1.
20. IPMT Formula
The IPMT formula is used to calculate the interest portion of a loan payment.
=IPMT(A1, B1, C1)
- Calculates the interest portion of a loan payment with an interest rate in cell A1, a loan amount in cell B1, and a number of payments in cell C1.
By mastering these 20 essential Excel formulas, you'll be able to perform a wide range of calculations, from basic arithmetic to complex financial and statistical calculations. Whether you're a beginner or an advanced user, this cheat sheet will help you to improve your productivity and take your spreadsheet skills to the next level.
We hope this article has been helpful in providing you with a comprehensive guide to Excel formulas. If you have any questions or need further assistance, please don't hesitate to comment below. Don't forget to share this article with your friends and colleagues who may find it useful.
What is the most commonly used Excel formula?
+The SUM formula is one of the most commonly used Excel formulas, as it allows users to quickly add up a range of cells.
How do I use the VLOOKUP formula in Excel?
+The VLOOKUP formula is used to look up a value in a table and return a corresponding value from another column. The syntax for the VLOOKUP formula is `=VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])`.
What is the difference between the AVERAGE and AVERAGEIF formulas in Excel?
+The AVERAGE formula calculates the average of a range of cells, while the AVERAGEIF formula calculates the average of a range of cells that meet a specified condition.