Top 30 excel formulas and their uses

Excel formulas can significantly boost your productivity. Here are 30 essential Excel formulas, each with a brief explanation and the actual formula

1. SUM: Adds up a range of cells.
   • Formula: =SUM(A1:A10)
2. AVERAGE: Calculates the average of a range of cells.
   • Formula: =AVERAGE(B1:B5)
3. COUNT: Counts the number of cells containing numbers.
   • Formula: =COUNT(C1:C8)
4. MAX: Returns the highest value in a range.
   • Formula: =MAX(D1:D12)
5. MIN: Returns the lowest value in a range.
   • Formula: =MIN(E1:E15)
6. IF: Performs a logical test and returns one value if true and another if false.
   • Formula: =IF(F1>50, "Pass", "Fail")
7. VLOOKUP: Searches for a value in the first column of a range and returns a value in the same row from another column.
   • Formula: =VLOOKUP(G1, A1:B10, 2, FALSE)
8. HLOOKUP: Similar to VLOOKUP, but searches for the value in the first row and returns a value in the same column from another row.
   • Formula: =HLOOKUP(H1, A1:F5, 3, FALSE)
9. INDEX and MATCH: Retrieves a value at the intersection of a particular row and column, based on matching criteria.
   • Formula: =INDEX(C1:E5, MATCH(I1, B1:B5, 0), 3)
10. CONCATENATE: Combines two or more text strings into one.
    • Formula: =CONCATENATE(J1, " ", K1)
11. LEN: Returns the number of characters in a text string.
    • Formula: =LEN(L1)
12. LEFT: Extracts a specified number of characters from the beginning of a text string.
    • Formula: =LEFT(M1, 3)
13. RIGHT: Extracts a specified number of characters from the end of a text string.
    • Formula: =RIGHT(N1, 4)
14. TRIM: Removes extra spaces from a text string.
    • Formula: =TRIM(O1)
15. DATE: Returns the serial number of a particular date.
    • Formula: =DATE(2023, 1, 15)
16. NOW: Returns the current date and time.
    • Formula: =NOW()
17. IFERROR: Returns a value you specify if a formula evaluates to an error; otherwise, it returns the result of the formula.
    • Formula: =IFERROR(P1/Q1, "Error")
18. SUMIF: Adds up numbers based on a given condition.
    • Formula: =SUMIF(R1:R10, ">50")
19. COUNTIF: Counts cells based on a single condition.
    • Formula: =COUNTIF(S1:S15, "<>0")
20. AVERAGEIF: Calculates the average based on a specified condition.
    • Formula: =AVERAGEIF(T1:T8, ">=75")
21. SUMIFS: Adds up numbers based on multiple conditions.
    • Formula: =SUMIFS(U1:U10, V1:V10, "A", W1:W10, ">50")
22. COUNTIFS: Counts cells based on multiple conditions.
    • Formula: =COUNTIFS(X1:X15, "<>0", Y1:Y15, "<100")
23. IF AND OR: Performs complex logical tests with multiple conditions.
    • Formula: =IF(AND(Z1>50, AA1="Pass"), "Good", "Not Good")
24. PMT: Calculates the payment for a loan based on constant payments and a constant interest rate.
    • Formula: =PMT(0.05, 3, -1000)
25. IRR: Calculates the internal rate of return for a series of cash flows.
    • Formula: =IRR(AB1:AB5)
26. NPV: Calculates the net present value of an investment based on a series of cash flows.
    • Formula: =NPV(0.1, AC1:AC5)
27. RANK: Returns the rank of a number in a list.
    • Formula: =RANK(AD1, AD1:AD10)
28. HYPGEOM.DIST: Calculates the probability of drawing a certain number of successes in a fixed number of trials, without replacement from a finite population.
    • Formula: =HYPGEOM.DIST(AE1, 10, 4, 5, FALSE)
29. TRANSPOSE: Transposes rows and columns in a range of cells.
    • Formula: =TRANSPOSE(AF1:AI4)
30. CHOOSE: Returns a value from a list of values, based on a specified position.
    • Formula: =CHOOSE(AJ1, "Option 1", "Option 2", "Option 3")

Remember to adapt these formulas to your specific needs, and you’ll find Excel to be an even more powerful tool for data analysis and manipulation.