time v cost calculation in Excel 2002 (XP)

[Guest]

I want to enter a start time and end time to show number of hour & minutes
spent against a task(done that) then I want to enter an hourly rate and
calculate the cost but I cant find a formula or calculation that converts the
time hours mins into a decimal (eg 5hr 40min = 5.66) to do the time/cost
calculation.

 

[Guest]

No factor is needed:

say a1 contains 8:50 and a2 contains 3:10 and the formula in a3 is:
=A1-A2

the value 5:40 will be displayed, but if you change the formatting of a3 to
General, then 5.666666667 will be displayed and can be used directly to be
multiplied by a rate.

 

[Niek Otten]

<if you change the formatting of a3 to General, then 5.666666667 will be displayed>

Only after you've multiplied by 24 (since time is stored as a fraction of a day)

--
Kind regards,

Niek Otten
Microsoft MVP - Excel


| No factor is needed:
|
| say a1 contains 8:50 and a2 contains 3:10 and the formula in a3 is:
| =A1-A2
|
| the value 5:40 will be displayed, but if you change the formatting of a3 to
| General, then 5.666666667 will be displayed and can be used directly to be
| multiplied by a rate.
|
| --
| Gary's Student
|
|
| "matelodave" wrote:
|
| > I want to enter a start time and end time to show number of hour & minutes
| > spent against a task(done that) then I want to enter an hourly rate and
| > calculate the cost but I cant find a formula or calculation that converts the
| > time hours mins into a decimal (eg 5hr 40min = 5.66) to do the time/cost
| > calculation.

 

[Guest]

Thanks for the correction.

 

[Guest]

thanks guys, it was the multiply by 24 that had me stumped

regards

Matelodave