using hours to multiply rate

[Guest]

hello community

can community guide me on this:
Example that the difference of time is 10:00AM to 1:00PM = 3:00 hr
I used the format [h]:mm to sum the total hours and
I wanted to have the total hours multiply by say, $15.00 (which is the
hourly rate) but
my output result is 1.875 instead of $45.00
the working is (3:00 * 15) >> am I correct to use this formula ??

can community assist me on this ?

thanks for the help

 

[Guest]

Excel interprets 3:00 as 3/24 of a day; therefore you are multiplying
$15*(3/24).

So, do 3:00*24*15 to cancel out the 24.

Dave

 

[Guest]

thanks Dave F, very good explanation, much appreciated
--
oldLearner57

Excel interprets 3:00 as 3/24 of a day; therefore you are multiplying
$15*(3/24).

So, do 3:00*24*15 to cancel out the 24.

Dave
--
Brevity is the soul of wit.

hello community

can community guide me on this:
Example that the difference of time is 10:00AM to 1:00PM = 3:00 hr
I used the format [h]:mm to sum the total hours and
I wanted to have the total hours multiply by say, $15.00 (which is the
hourly rate) but
my output result is 1.875 instead of $45.00
the working is (3:00 * 15) >> am I correct to use this formula ??

can community assist me on this ?

thanks for the help