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How to Multiply Hours and Minutes by an Hourly Rate in Excel?
Knowing how to compute profits or expenses based on an hourly rate is crucial when working with time-related data in Excel. Understanding this procedure can help you save time and effort whether you're handling employee payroll, keeping track of project expenses, or just attempting to figure out how much a service will cost.
In this article, we'll go through how to multiply hours and minutes by an hourly rate in Excel step-by-step, so you can rapidly calculate the monetary value of a certain amount of time. Make sure Microsoft Excel is installed on your computer before we start. This video presumes a fundamental familiarity with Excel and its formulas, but even if you're a complete novice to the programme, we'll walk you through each step. Let's get started and discover how to multiply hours, minutes, and an hourly rate in Excel!
Multiply Hours and Minutes by an Hourly Rate
Here we will first multiply the cells, then format the cells into the number format. So let us see a simple process to know how you can multiply hours and minutes by an hourly rate in Excel.
Step 1
Consider an Excel sheet where you have a list of durations.
First, click on an empty cell, in this case cell C2, and enter the formula as =A2*B2*24, click enter, then drag down using the autofill handle.
Empty Cell > Formula > Enter.
Step 2
Then you can see that the cells will be in other format. Now to format the cells into numbers, select the range of cells, then click on general under home to complete the task.
Select Cells > Home > General.
This is how you can multiply hours and minutes by an hourly rate in Excel.
Conclusion
In this tutorial, we have used a simple example to demonstrate how you can multiply hours and minutes by an hourly rate in Excel to highlight a particular set of data.
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