Calculating an hourly rate

B

bofund

Hi all,

I have a quick question.

I have a field in hours format and a field in currency format.

I want to calculate the hourly rate for work done. For example £20 was
earned in 2 hours.

Easy for us to work this out but is there any way Excel can calculate
this?
 
B

Bob Phillips

By field in hours, I assume you mean time such as hh:mm format?

Assume hours in A1, amount in A2, rate is then

=A2/A1/24

The division by 24 is needed as time is held as a fraction of 1 day.

--

HTH

Bob Phillips
... looking out across Poole Harbour to the Purbecks
(remove nothere from the email address if mailing direct)
 
C

Chip Pearson

Multiply your time value by 24 then by the hourly rate. E.g.,

=A1*24*20

where A1 is the time value.
 
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