Excel Formulas Cheat Sheet: Quick Reference Guide

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Mastering Excel formulas is a crucial skill for anyone who works with data. With so many formulas to choose from, it can be overwhelming to know where to start. That's why we've put together this comprehensive Excel formulas cheat sheet, covering the most commonly used formulas and functions.

Excel formulas are used to perform calculations, manipulate data, and create dynamic charts and tables. From basic arithmetic operations to advanced statistical analysis, Excel formulas can help you extract insights and meaning from your data.

Whether you're a beginner or an advanced user, this cheat sheet will provide you with a quick reference guide to the most commonly used Excel formulas. We'll cover the basics of formulas, including how to create and edit formulas, as well as provide examples of how to use formulas in real-world scenarios.

Understanding Formulas

Before we dive into the cheat sheet, let's cover some basics about formulas in Excel.

• A formula is an equation that performs a calculation on a value or range of values.
• Formulas can be used to perform arithmetic operations, manipulate text, and work with dates and times.
• Formulas can be simple, such as =A1+B1, or complex, such as =IF(A1>10, "Yes", "No").
• Formulas can be used to create dynamic charts and tables that update automatically when data changes.

Basic Arithmetic Formulas

Here are some basic arithmetic formulas to get you started:

• =A1+B1: Adds the values in cells A1 and B1.
• =A1-B1: Subtracts the value in cell B1 from the value in cell A1.
• =A1*B1: Multiplies the values in cells A1 and B1.
• =A1/B1: Divides the value in cell A1 by the value in cell B1.
• =A1^2: Squares the value in cell A1.

Functions

Functions are pre-built formulas that perform specific calculations. Here are some common functions:

• SUM: Adds up a range of values. Example: =SUM(A1:A10)
• AVERAGE: Calculates the average of a range of values. Example: =AVERAGE(A1:A10)
• MAX: Returns the maximum value in a range of values. Example: =MAX(A1:A10)
• MIN: Returns the minimum value in a range of values. Example: =MIN(A1:A10)
• COUNT: Counts the number of cells in a range that contain numbers. Example: =COUNT(A1:A10)

Logical Formulas

Logical formulas are used to test conditions and return a value based on the result.

• IF: Tests a condition and returns one value if true and another value if false. Example: =IF(A1>10, "Yes", "No")
• IFERROR: Returns a value if an error occurs. Example: =IFERROR(A1/B1, "Error")
• IFBLANK: Returns a value if a cell is blank. Example: =IFBLANK(A1, "Blank")

Text Formulas

Text formulas are used to manipulate text strings.

• CONCATENATE: Joins two or more text strings together. Example: =CONCATENATE(A1, " ", B1)
• LOWER: Converts text to lowercase. Example: =LOWER(A1)
• UPPER: Converts text to uppercase. Example: =UPPER(A1)
• LEN: Returns the length of a text string. Example: =LEN(A1)

Date and Time Formulas

Date and time formulas are used to manipulate dates and times.

• TODAY: Returns the current date. Example: =TODAY()
• NOW: Returns the current date and time. Example: =NOW()
• DATE: Returns a date based on a year, month, and day. Example: =DATE(2022, 1, 1)
• TIME: Returns a time based on hours, minutes, and seconds. Example: =TIME(12, 0, 0)

Lookup Formulas

Lookup formulas are used to find and return values from a table or range.

• VLOOKUP: Looks up a value in a table and returns a corresponding value from another column. Example: =VLOOKUP(A2, B:C, 2, FALSE)
• INDEX/MATCH: Looks up a value in a table and returns a corresponding value from another column. Example: =INDEX(C:C, MATCH(A2, B:B, 0))

Financial Formulas

Financial formulas are used to calculate financial metrics and values.

• PMT: Calculates the payment for a loan based on the principal, interest rate, and number of payments. Example: =PMT(0.05, 60, 10000)
• IPMT: Calculates the interest payment for a loan based on the principal, interest rate, and number of payments. Example: =IPMT(0.05, 60, 10000)
• FV: Calculates the future value of an investment based on the present value, interest rate, and number of periods. Example: =FV(0.05, 10, -1000)

Statistical Formulas

Statistical formulas are used to calculate statistical metrics and values.

• AVERAGEIF: Calculates the average of a range of values based on a condition. Example: =AVERAGEIF(A1:A10, ">10")
• STDEV: Calculates the standard deviation of a range of values. Example: =STDEV(A1:A10)
• CORREL: Calculates the correlation coefficient between two ranges of values. Example: =CORREL(A1:A10, B1:B10)

We hope this Excel formulas cheat sheet has provided you with a comprehensive reference guide to the most commonly used formulas and functions in Excel. Whether you're a beginner or an advanced user, this cheat sheet should help you to become more proficient in using Excel formulas to extract insights and meaning from your data.

Get Practicing!

Now that you've read through this cheat sheet, it's time to put your new skills into practice. Try out some of the formulas and functions we've covered, and see how you can apply them to your own data.

If you have any questions or need further clarification on any of the formulas or functions, please don't hesitate to ask. Happy calculating!

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