If you are looking for a function in the Excel which gives you the desired answer when the condition is met or TRUE and returns another value when the condition is FALSE.

The**IF Function** is such function which helps you in making the logical decisions. It gives you two results one your value is True and when your value is False.

______Syntax of IF function__:

__Let us explore this function in Excel with the help of an example: __

A teacher has the list of the marks of the students who appeared for the semester exam.

**If a student scores more than 35% then s/he passes the examination otherwise s/he needs to repeat the exam.**

Can you help the teacher using the**IF function** in preparing the list of passed and the failed students?

__Here is the list of the 20 students:__

The

**IF(logical test,[value if true],[value if false])**

A teacher has the list of the marks of the students who appeared for the semester exam.

Can you help the teacher using the

Based on the condition mentioned in the example, we need to use the **IF function** which gives the result:

**"Pass" when student scores more 35% and "Fail" if the score is less than 35%. **

__This can be done as follows:__

**Result: Pass**

**Result: Fail**

Mr. Smith is working in the XYZ ltd as a Financial Analyst.

He is given the task to evaluate the feasibility of the two projects using the

**The management will approve the project if its IRR is greater than hurdle rate of 8% otherwise, the project is rejected.**

**=IF(B9>B10,”Yes, the project is feasible”, “No, the project is not feasible”)****Result: Yes, the project is feasible**

**=IF(E9>E10,”Yes, the project is feasible”, “No, the project is not feasible”)****Result: No, the project is not feasible**

The user can use the IF function in many situations by setting the criteria as per the requirements. You can see in the above examples that it is a very powerful function which makes the decision making very easy.

The Excel is a very powerful tool which every entrepreneur must use for the evaluation and the feasibility of the projects.

In today’s post, I will discuss the Internal Rate of Return or in the short form, the IRR.

It is generally used to measure the attractiveness of the investment or the project.

Let me suppose you invest in any of the projects of your field or choice.

__How do you know that it is a profitable project and will give you the higher return than the cost of capital?__

The IRR is one such tool which lets you know the internal rate of return of your project. It deals with the periodic cash flows.

If**(The project is feasible)****(The project is not feasible**)

In today’s post, I will discuss the Internal Rate of Return or in the short form, the IRR.

**The Internal Rate of Return is the rate of return which makes the Net Present Value of all the cash flows from a project or an investment to zero.**

It is generally used to measure the attractiveness of the investment or the project.

Let me suppose you invest in any of the projects of your field or choice.

The IRR is one such tool which lets you know the internal rate of return of your project. It deals with the periodic cash flows.

If

**When I****RR > cost of the capital or the hurdle rate**

**When IRR < cost of the capital or the hurdle rate**

Where,

In order to calculate the IRR, the NPV value is set to zero.

****

**CF₁**= Cash flows at the 0 year**CF₂**= Cashflows in the 1st year**CF₃**= Cash flows in the 3rd year**CFn**= cash flows in the nth year

In order to calculate the IRR, the NPV value is set to zero.

**The value of IRR cannot be calculated analytically rather we use hit and trial method to calculate this value.**

A company ABC is planning to purchase a machinery worth

In the 5th year, the management is planning to dispose it off at

**The machinery must generate 8% annual return to cross the company’s hurdle rate.**

- If the IRR > 8% the company should purchase the machinery otherwise it should look for other alternative investment option.

And after putting the values in the formula given above, **the value of IRR comes to be 10.6 %. **

The value of IRR is determined through**hit and trial method** and when I use the above formula, it is quite tedious.

But if I calculate the same**using excel** then it is quite easy and fast. So, let us calculate the IRR in the excel sheet.

__The syntax for IRR in the excel is as follows__:

**IRR (values, [guess])**

__The values part__:

__The guess part__:

****

The value of IRR is determined through

But if I calculate the same

- In the value part, you enter the cash flows for the specific period. The cash flows need not be equal as in the case of an annuity but these must occur at the regular interval of time like quarterly or yearly.
- For calculating the IRR your values must contain at least one negative and the one positive values.
- The negative values are taken as the investments or the cash outflows while the positive values are taken as the cash inflows or the profits.

- It is the value which you guess is near to the IRR.
**It is optional and you can leave it blank.**

Arrange all the cash flows for the specific period as follows:

You can see the above screenshot that the

You can compare the two projects with the same duration.

However, the IRR has one

What I mean to say that it does not tells whether it is:

**15% on $ 4,00,000 OR****15% on $ 10,00,000,**

Therefore, taking decision merely on IRR is not always advisable.

Let me explain it further, investment in project offering 15% return on $ 4,00,000 of the investment is more suitable for a small company which has less cash to invest than a project offering 20% on $ 10,00,000 of the initial investment.

Therefore, you need to keep all these points in mind while evaluating the IRR of the project and taking the final decision as the entrepreneur.

The **compound interest** is the interest on the principal amount which is added back to the principal to calculate the interest for the next period.

This process of adding the interest of the previous period to the principal continues till the maturity.

__See the screen shot__:

This process of adding the interest of the previous period to the principal continues till the maturity.

You can see the in above screen shot that when $ 10,000 are invested at the rate of 5% per year, the first-year interest is $ 500 and this interest is added back to the principal $ 10,000.

- It becomes $ 10,000 + $ 500 = $ 15,000
- The interest for the 2nd year which is 5% of $ 15,000 = $ 525.

This process is repeated till the maturity period of 10 years.

**A**= Maturity value at the end of the period**r**= Annual rate of interest (in decimal)**t**= Number of years of investment**n**= Number of compounding periods

- Yearly compounding;
**n=1** - Quarterly compounding;
**n=4** - Monthly compounding;
**n=12** - Daily compounding;
**n=365**

Let’s say I deposit $ 10,000 (one-time investment) for 10 years at the annual rate of 5% with

**What should be the total interest and the maturity value of my investment?**

**Amount = 10,000 * (1 + 0.05/1) ^ (1*10)**

Many a times, this formula will give you the output with many digits after the decimal. Just use the

**Amount = Round (10,000 * (1 + 0.05/1) ^ (1*10), 1)**- Total interest accumulated = Amount – Principal
- $ 16,288.90 - $ 10,000 = $ 6,288.90

The maturity amount varies with the change in the number of compounding period. I can say that the maturity amount increases with the increase in the number of compounding periods.

**Amount = Round (10,000 * (1 + 0.05/4) ^ (4*10), 1)**

**Output= $ 16,436.20**

**Amount = Round (10,000 * (1 + 0.05/12) ^ (12*10), 1)****Output= $ 16,470.10**

**Amount = Round (10,000 * (1 + 0.05/365) ^ (365*10), 1)****Output= $ 16,486.60**

Conclusion

The above calculations are based when you do one-time investment in any instrument for the specific period of time and at the constant rate of interest.

Next time when you visit the bank and its representative offers you fixed deposit scheme, you simply ask the number of compounding periods in a year.

The more are the compounding periods, the better are your returns. I am attaching the Compound interest calculator which you can download and can check yourself.

Next time when you visit the bank and its representative offers you fixed deposit scheme, you simply ask the number of compounding periods in a year.

The more are the compounding periods, the better are your returns. I am attaching the Compound interest calculator which you can download and can check yourself.

compound_interest_template.xlsx |

All online entrepreneurs make efforts to increase their presence on the internet. Maybe you are doing good in your online business but there is always a room to kick your start-up to the next level. Online polls are one of the strategies, helping you get discovered online.

The online polls are the way to let visitor express their views and share their opinion about a particular product or a service. If you want to attract more audiences to your website then your questions have to be right and should be related to your business.

__Why use Online Polls?__

Well, before going any further, I would like to discuss the types of online polls that you can conduct on your blog or the website.

The online polls are the way to let visitor express their views and share their opinion about a particular product or a service. If you want to attract more audiences to your website then your questions have to be right and should be related to your business.

- It is cost effective and easy to respond
- Faster and accurate
- Ease of processing and display
- Anonymity is maintained
- The information is collected in less time
- Helps in growing e-mail list
- Very good medium to take the product feedback
- The online polls strike the competitive nature of people
- Increased visiting time on your blog and your online business grows

Well, before going any further, I would like to discuss the types of online polls that you can conduct on your blog or the website.

- These types of polls are conducted when you need to know the customer opinion and preference about any product or the services. The multiple poll questions generally have 4-5 options and the respondent need to select that option which best describes her/his opinion or preference.
__The example is shown below:__

When you want a straight forward answer of the poll question, you conduct Yes/No polling. This is generally done to filter out the more serious buyers from the casual ones. __The example could be like:__

You can add maybe as one of the options to filter out the slightly serious buyers which can purchase your product if followed properly.

This type of poll question is generally used to know the score of the product or service on a scale of 10. The score poll lets you know the opinion or experience of the respondents after purchasing and using your product or the service.

There are times when you want to know the degree of satisfaction in the mind of the consumer after using your product or the services.

This satisfaction level through this poll question helps you in improving the product.The score poll and scale poll generally convey the same meaning while one gives number other shows the degree.

__The poll question could be:__

This satisfaction level through this poll question helps you in improving the product.The score poll and scale poll generally convey the same meaning while one gives number other shows the degree.

Suppose you are running an Online store, designing clothes for every age group. Your Online store will get the direction if you come to know the age, occupation, income, ethnicity, etc of the visitors.

I mean to say that for example your visitors are mostly 18-30 years of age, service class with monthly income range $2000-$4000 and are mostly Asian community.

You will be able to design the clothes according to their taste where the chances of conversion are more and your Online store grows.

I mean to say that for example your visitors are mostly 18-30 years of age, service class with monthly income range $2000-$4000 and are mostly Asian community.

You will be able to design the clothes according to their taste where the chances of conversion are more and your Online store grows.

You are regularly updating your blog but have found that the visitors are not growing at the desired rate. Somebody suggested you conduct a poll with the following options:

How much of the total free time do you devote to?

__The result was as follows:__

It was later found that the blog was not mobile responsive that is it is difficult to read on mobile. This poll question provided the solution of slow growth in the readership. This type of poll is called constant sum poll.

How much of the total free time do you devote to?

- P.C.
- Laptop
- Mobile

- P.C.: 10%
- Laptop: 30%
- Mobile: 60%

It was later found that the blog was not mobile responsive that is it is difficult to read on mobile. This poll question provided the solution of slow growth in the readership. This type of poll is called constant sum poll.

When you are interested to know the popularity of a particular product. For example,How do you rank the following websites on the basis of ease of use?

- Weebly
- Wix
- Site 123

There are times when you choose to use pictures to design your poll questions then you create an image poll ask the respondents to respond to the questions.

By now you come to know the importance and types of online polls. Now it is time to actually implement the learning but you must be wondering how to implement it?

**Weebly offers 2 great app polls to choose between them. One is Pinpoll and another good alternative is QuickPoll**

By now you come to know the importance and types of online polls. Now it is time to actually implement the learning but you must be wondering how to implement it?

You can use Pinpoll to create a poll and can be added directly to the site. It offers many features free of cost like one can create unlimited polls of multiple-choice questions, add videos or the animated pictures at the background of the poll to make it more attractive, the respondents can see the real-time result and one can even know the responses of their Facebook friends.

**Although the above-mentioned features come free of cost, if you want to use all the features then it costs you $9/month.**

Once it is added to the dashboard of your Weebly site then you can easily drag and place it at any location on the page of your choice.

Under poll settings, select the option “create new poll”. Thereafter, you can type the poll questions and its multiple answers, can change the background, layout, font, etc to design an eye-catching poll for your readers.

The extra tab has many extra features and some of which can be activated by paying a one-time nominal fee:

Once it is added to the dashboard of your Weebly site then you can easily drag and place it at any location on the page of your choice.

Under poll settings, select the option “create new poll”. Thereafter, you can type the poll questions and its multiple answers, can change the background, layout, font, etc to design an eye-catching poll for your readers.

The extra tab has many extra features and some of which can be activated by paying a one-time nominal fee:

- Removing pinpoll logo (fee)

- You can hide the result so that people visit again to see the result (fee)

- Showing the number of votes

- You can automate the start and end date of the poll

- Increase the security by activating recaptcha (fee)

- Show share buttons so that the respondents can share at social media

- Can activate the interactive map to know the origin of the votes

Let me discuss one of the popular poll apps of Weebly, Quick Polls. You can easily design a customized poll, attracting more readership on your blog that increases sales of your Online store.

Let us look at this:

__It offers a free and premium plan to its users__:

Let us look at this:

If you are a Weebly user then you can add this poll directly. The Quick Poll is a tool to ask a poll question in an easy way. The result of the poll appears in no time and you get a real-time picture of the poll results.

You can say that it is one of the easiest ways to engage your audiences. You can create customized polls inside the Weebly editor.

__The quick polls offer the following features to its users:__

This app offers 7 days free trial, thereafter it offers 30 responses free per month or pay $3.99/month to get unlimited responses.

It only takes a few seconds to make this app live on your website and you can start creating polls. Simply, go to the app center here and select ADD.

This will connect the Quick Poll to the site and it will be added to your dashboard. There, you can drag and place it where you want it to be featured.

Thereafter, click on the Poll and select Poll set up out of the four options:

You can design & customize the poll by changing the colors, font, and background of the poll. You can even get real-time responses of the poll in your mail-box.

You can say that it is one of the easiest ways to engage your audiences. You can create customized polls inside the Weebly editor.

- You can create rank order poll questions with simple and easy 1-5-star poll reviews. The respondents can give their feedback about any product by giving stars on the scale of 5 stars.

- You can beautifully create Emoji polls using Quick polls letting respondents express their emotions or sentiments through Emoji Poll.

- You can create poll using images

- It displays the result graphically which helps you in analyzing the result more smartly and the current results can be seen by the respondents.

- It helps you in growing your mailing list as it asks respondents to give the e-mail ids after they respond.

This app offers 7 days free trial, thereafter it offers 30 responses free per month or pay $3.99/month to get unlimited responses.

It only takes a few seconds to make this app live on your website and you can start creating polls. Simply, go to the app center here and select ADD.

This will connect the Quick Poll to the site and it will be added to your dashboard. There, you can drag and place it where you want it to be featured.

Thereafter, click on the Poll and select Poll set up out of the four options:

- Standard
- Buttons & Image
- Star review
- Emoji review

You can design & customize the poll by changing the colors, font, and background of the poll. You can even get real-time responses of the poll in your mail-box.

Online Polls are a very effective medium to engage your audiences and grow your e-mail list. However, you should ask a question which people are passionate about to answer and can even take help from the influencers to spread your polls.

__Tips for writing great poll questions:__

Weebly offers 2 very good options Pinpoll and Quick Polls which you can add to the dashboard of Weebly editor in a matter of seconds. Thereafter, you just drag the app of your choice and place it on the page where you want it to get featured.

Start creating attractive polls for the users and start getting responses, increasing your visitors.

]]>- Be direct and ask multiple choice questions

- Use simple and direct language

- No confused questions

- Don't forget to include other option

- The questions should be interesting and free from error

- Time-bound polls and show the results simultaneously

- The polls should be mobile and tablet responsive

- Right sample size

- Ask a question in a flow from simple to complex

Weebly offers 2 very good options Pinpoll and Quick Polls which you can add to the dashboard of Weebly editor in a matter of seconds. Thereafter, you just drag the app of your choice and place it on the page where you want it to get featured.

Start creating attractive polls for the users and start getting responses, increasing your visitors.

It is advisable to fix a schedule, though difficult, for publishing your blog-posts so that your audiences keep getting fresh content regularly.

There are times when you have fresh content on 2-3 topics but you do not to publish it instantly on your blog rather you want to do it in a gap of every 3 days.

Timely publishing the content give the audiences a sense of continuity and natural attachment to your blog. Now, they start liking your blog and your e-mail list grows.

There are times when you have fresh content on 2-3 topics but you do not to publish it instantly on your blog rather you want to do it in a gap of every 3 days.

Timely publishing the content give the audiences a sense of continuity and natural attachment to your blog. Now, they start liking your blog and your e-mail list grows.

We have the option in Weebly which empowers its users to schedule the blog-post timing as per their convenience.

Simply, go to your Blog editor on your Weebly website. When you are creating a new post for your readers, you see the**POST OPTIONS** tab at the bottom left of the **Blog editor screen**:

Simply, go to your Blog editor on your Weebly website. When you are creating a new post for your readers, you see the

and when you click on this tab, a rectangular table will slide up, asking your choice of publishing the post immediately or you want to schedule the post publishing on the future date and time.

You can set the future date and time according to your choice. Like I have set it on April 7, 2019, at 11:30 am IST. Thereafter, click on the Schedule button to confirm the changes you made. Now, this post will automatically get published at the mentioned date and time without making you to login to your Weebly website again and executing the command.

Sometimes, you want to re-schedule the post like changing it to next date. You can access the post via SCHEDULE button appearing at the bottom of the BLOG EDITOR change it by simply going to the POST OPTIONS and then change the date and time of the blog post.

This option is suitable for those who are generally out for work like travel Bloggers collect information about a particular place, writing 2 or 3 interesting topics on their journey and want to share with their audiences.

They can do it simply drafting the articles in their Weebly websites and scheduling them at different dates with equal gaps so that their readers get fresh content automatically and you can again go for next destination to share another interesting story with your audiences.

This option is suitable for those who are generally out for work like travel Bloggers collect information about a particular place, writing 2 or 3 interesting topics on their journey and want to share with their audiences.

They can do it simply drafting the articles in their Weebly websites and scheduling them at different dates with equal gaps so that their readers get fresh content automatically and you can again go for next destination to share another interesting story with your audiences.

All of us know that maintaining and creating fresh content for the blog is quite a task. I am sure there are a few articles in your blog too that need to be updated at a regular interval of times say once in a year.

**For example**, you have written an article on the easiest website builder in 2018. This list may not hold true for 2019, therefore, you need to update every year and let your audiences know about your update.

You want a maximum number of readers to read the updated article and write their opinion in the comment section of the post. The best way to do this is to extract this article and placed it at the top of the blog.

**This can be done very easily in Weebly by changing its previous date and re-publishing it at the current date.**

Let me take an example of my Blog like I have written “Top business trends you get to see in the year 2017” was written by me on 10/01/2017 which needs to be updated every year. I simply select this post in my BLOG EDITOR and do the relevant changes in the article and re-publish it at the current date.

You want a maximum number of readers to read the updated article and write their opinion in the comment section of the post. The best way to do this is to extract this article and placed it at the top of the blog.

Let me take an example of my Blog like I have written “Top business trends you get to see in the year 2017” was written by me on 10/01/2017 which needs to be updated every year. I simply select this post in my BLOG EDITOR and do the relevant changes in the article and re-publish it at the current date.

Once you update the date, click on the UPDATE button at the top-extreme right of the BLOG EDITOR to reflect the changes you made.

The post will automatically pop out and gets reflected at the top of your Blog. Now, its visibility is increased, more people will see and read the updated version of the post and you get the due credit.

Although this feature is simple yet very effective, giving you the option to create continuity in publishing the posts at regular interval of time without taking much of your attention. Thus, giving you time to focus on growing your business or Online store.

]]>The COUNT IF function in Excel is used to count those cells within the given range with the specific condition. In this article, we will see the usefulness and the versatility of the **COUNTIF** function.

__The syntax of the function is as follows:__

**COUNTIF (range, criterion)**

__Let us explore this function with some examples having different criterion:__

- The range is the number of cells you specify in your worksheet and this can be specified as A1:A10 or B1:B20.
- The criterion is the condition which enables the Excel to count those cells, out of the range of cells, which meet your requirement. For example, if I set the criterion to count those cells which are greater than 25, the Excel will select these specific cells, count them and will produce the result.

Below is the list of 20 students with their marks in the percentage.

**The teacher is assigned the job to count the students who scored > 33% marks and thus calculate the passing percentage.**

She can very easily know the number of students passed in the examination using the

**=COUNTIF (C2:C21,”>33%”)**- The Range is from C2 to C21 and
- The criterion is > 33%
**Result: 14**(There are 14 such students who scored more than 33% marks in the examination)

Another simple example to match the text and count the number of times it occurred in the selected range of the texts.

Below is the list of the football winners across the world in the last 60 years.

Let us say that I want to know the number of times team Brazil has won the world cup title in the last 60 years.

I can do this very easily using the

(*****The **criteria are case insensitive** that is whether you write “brazil” or “Brazil”, the formula will produce the same result)

__The working of the formula is as follows:__****

**=COUNTIF (B2:B17,”Brazil”)****Range is B2:B17****Criterion is “Brazil”****Result: 5 (Excel will count the number of time "Brazil" occurs in the given range and produce the result)**

This function can be used to count the partial match of the characters out of the given range.

Suppose you want to know that how many students are there in the class with surname Gupta, irrespective of their different initial name, from the list of the students given below:

The asterisk (*) sign in the formula is used to find and count those cells with any sequence with the text **“Gupta”.**

Again, if you want to know the names that start with alphabet "A" and it does not matter how many other letters it contains, then use the following formula:

Again, if you want to know the names that start with alphabet "A" and it does not matter how many other letters it contains, then use the following formula:

Similarly, if I say that I want to know the students’ name end with “ma” irrespective of the number of the letters at the beginning of “ma”, we can use the following formula:

Finding Blank ans Non-blank cells

This function can be used to find the blank and the non-blank cells in the given range.

Suppose the station master wants to know the status of the number of trains with no remarks about their whereabouts.

We can help him using the

By now you must have seen and understood the versatility and the usefulness of the

It is one of the simplest functions which meets your multiple requirements.

Excel has made the task quite easy for all of us. It is often difficult to find the duplicate values from the list manually and it is a very time-consuming process.

Excel can do this task very effectively and efficiently and that too very fast.

Excel can do this task very effectively and efficiently and that too very fast.

A teacher has the list of students with some of the names are repeated in the list.

**She is assigned the job to find the duplicate values and submit the correct list.**

You can see that the names of **“Smith”** and **“Anglina”** are repeated twice which I have highlighted manually using the maroon color.

But when the list is quite large it becomes difficult and time-consuming to find the duplicate values manually.

To make this work easy, there is an option in Excel which automatically highlights the duplicate values.

__Let us understand the procedure by looking at the following screenshot:__

**Select the list of the students > Home > Conditional Formatting > Highlight Cells Rules > Duplicate Values**

But when the list is quite large it becomes difficult and time-consuming to find the duplicate values manually.

To make this work easy, there is an option in Excel which automatically highlights the duplicate values.

On clicking the **Duplicate Values**, Excel will highlight these values with colors.

__See the following screenshot:__

When you click **OK tab** shown in the above screenshot, the duplicate values will be highlighted with **red color**.

You can click on the drop box and highlight the duplicate values with the color of your choice.

You can click on the drop box and highlight the duplicate values with the color of your choice.

You can free your list from duplicates by permanently deleting the repeating values. Use the following procedure:

After clicking on the **Remove Duplicates**, the new window will open which will give you the option to check one or more columns which contain the duplicate values and uncheck those columns which don’t contain the duplicate values.

__Please look at the following screenshot:__

After clicking the OK tab, Excel will mention the number of duplicate values and the number of unique values left after deleting the duplicate values:

Total 18 unique values remained after deleting the repeating names **“Smith”** and **“Anglina”.**

It is better to save the original list into another spreadsheet before deleting the duplicate values.

This function is very useful when you have a very large list of names containing the duplicate values.

You can very easily find the duplicate values and delete them within a very short period of time.

There are times when we want to protect Excel sheet while sending the information to other department or within the department, as we don’t want anybody to disturb (change, edit, delete) the information present in the sheet.

Excel provides the easy solution to lock the entire sheet and preventing the accidental damage or the tempering of the information present in the cells.

Excel provides the easy solution to lock the entire sheet and preventing the accidental damage or the tempering of the information present in the cells.

There are 2 ways to protect the sheet in Excel 2016, 2013 and 2010, perform the following steps:

**Open the spreadsheet you want to protect > click on the Review tab at the top > Select the Protect Sheet.**

**Right click on the worksheet tab (Sheet 1) > Protect Sheet**

When you click the Protect sheet option, a dialog window will open asking for the password to protect the sheet as follows:

- In order to protect the sheet, type the password with alphanumeric characters to make it strong and press OK. The confirm dialog box will pop up prompting you to re-type the password avoiding any misprint. Re-type the password and press OK. Be sure to remember the password and it is better to write it in the notebook as you will be needing it to unprotect the worksheet for editing.
- Sometimes, it is uneasy for the team to remember the password every time and unprotect the sheet for editing when forwarding the sheet information within the department.
- If you just want to prevent the accidental modification of the information or the formula and at the same time do not want to memorize and type the password every time to unprotect the sheet then
**just leave the password blank and Press OK**. - If somebody in your department wants to unprotect the sheet, just click on the Unprotect Sheet button on the ribbon or in the Sheet tab’s right click (dialog box will open) and click the Unprotect Sheet from its menu. The procedure is shown below:

- By default, the two options are already selected in Excel like select
**locked cells**and select**unlocked cells** - If you want the users to perform other actions like insert column and rows, delete column and rows, sorting etc then you can select these fields and press OK
- If you don’t check any of the options or the fields, the user will only able to see the sheet
- Click the
**OK**button

- The confirm dialog box will pop up prompting you to re-type the password so as to avoid any accidental misprint. Retype the password and press OK

When someone tries to modify the sheet, the following message will appear:

As you have seen above that it is quite easy and Excel offers two ways to protect the work sheet. It is even easier to unlock as Excel provides multiple ways to do it.

Remember, you will always need a password to Unprotect the sheet.

**Review > Unprotect Sheet**

**Worksheet tab at the bottom (sheet 1) > Unprotect Sheet**

**Home > Format > Unprotect Sheet**

Upon pressing the **Unprotect Sheet button** using any of the above ways, the new dialog box is opened and you are prompted to **enter the password** to unprotect the sheet.

On entering the password,**press OK** and the sheet is unprotected and you can edit it.

On entering the password,

I have used the way 1 to unprotect the sheet shown in the above screenshot which is as follows:

**Review > Unprotect sheet > Password > OK**

The worksheet protection in Excel is not actually a security feature as it uses a very simple algorithm and anyone having the basic knowledge of VBA can break it easily.

It is a feature which is used to avoid any accidental loss of information by you or your team members.

The payback period is the time in which your initial investment is expected to be recovered from the cash inflows that the investment will generate in future or the coming years.

It is one of the simplest techniques to know the feasibility of any investment or the project.

It is very easy to calculate the payback period of any investment using Excel.

__Let us learn to calculate it in different situations__:

It is one of the simplest techniques to know the feasibility of any investment or the project.

**The project is preferred over another if its payback period is shorter than that of the second project.**

It is very easy to calculate the payback period of any investment using Excel.

**There is a project which requires an investment of $5,00,000 (Cash outflow), producing $ 1,00,000 (cash inflow) every year for the next 6 years.**

You can draw the table shown above and write the expected cash flows for the subsequent years. As the cash flows are equal, the payback period calculation is simple and can be written as:

In the above case, the payback period is:

The project will achieve the break-even at the end of the 6th year because the cash inflows will start from 2nd year on wards and thereafter it will take 5 years to achieve the break-even.

**Payback period = Initial investment/Cash inflow per period**

In the above case, the payback period is:

**5,00,000/$ 1,00,000 = 5 years**

The project will achieve the break-even at the end of the 6th year because the cash inflows will start from 2nd year on wards and thereafter it will take 5 years to achieve the break-even.

**The initial investment is $ 4,00,000 and the subsequent cash flows are $ 70,000 every year which are not an exact multiple of the initial investment of $ 4,00,000.**

Here also, the formula will remain the same, the only difference is that in this case the payback period is not the exact number but it is in decimals, 5.71 years.

**In the above screenshot the payback period is 5.71 years.**

When the cash flows are uneven as shown in the following example then it becomes difficult to know the payback period simply by dividing the cash investment by the cash inflow per period

Here we need to use the concept of the

**The cumulative cash flows are the sum of all the cash flows during the life of the project.**

The moment cumulative cash flows exceed the initial investment is called the break-even point of the project (The break-even point is the point of no profit and no loss).

And the time taken to reach the break-even point is the payback period of the investment.

**Payback period = The value of the year in which last negative cumulative cash flow occurred + (value of the cumulative cash flow in that year divided by the cash inflow in the next year)**

**Payback = 5 + ABS (-60,000/80,000) = 5 + 0.75 = 5.75 years**

Therefore, the payback period of the project is

(*The ABS function is used to get the absolute value)

But this a manual method to find the payback period, as you need to calculate the payback period manually every time when considering the new project.

**We can design the simple calculator to find the payback period using the COUNTIF and the VLOOKUP function.**

: Count the number of years, using__Step 1__**COUNTIF**function, till the last negative cumulative cash flow: Look for the last negative value of the cumulative cash flow using**Step 2****VLOOKUP**function: Look for the next year’s cash inflow using**Step 3****VLOOKUP**function: Divide the value of step 2 by the value of step 3**Step 4**: Take the absolute value, using**Step 5****ABS function**, of the result obtained in step 4: Add the output obtained in the step 4 with the output of step 1 and you get the payback period of the investment**Step 6**

In the previous example, first, count the number of years in which the cumulative cash flows are negative using

Upon writing this formula, it searches for the condition to be true within the range you have specified and returns the answer, 5.

It means that there are 5 years which are having the negative cumulative cashflows.

__Step 2: __

VLOOKUP to find the value of the last negative cumulative cash flow:

This function retrieves the data from the specific column based on the condition specified by the user.

VLOOKUP to find the value of the last negative cumulative cash flow:

This function retrieves the data from the specific column based on the condition specified by the user.

The lookup value is the value which you have obtained using the

In the

In the column index write that column number in which your desired value exists like in this case, the desired value is $ -60,000 and it is in column 3.

The

*(*Kindly ignore the [Range lookup]*

VLOOKUP to find the cash inflow in the next year:

Similarly, we can look for the cash inflow for the next year that is 5 + 1 = 6th year.

This will look for the value in column 2 corresponding to the 6th year and produce the result $ 80,000

Step 4 & 5

Finding the fractional value and extracting the absolute value:

The payback period:

We can further reduce the number of cells by combining the outputs of VLOOKUP function into one cell.

__Combining VLOOKUP functions__ __into one cell__:

**=VLOOKUP(D9,A1:C8,3)/VLOOKUP(D9+1,A1:C8,2)**

**=COUNTIF(C2:C8,"<0")+ABS(VLOOKUP(COUNTIF(C2:C8," <0"),A1:C8,3)/VLOOKUP(COUNTIF(C2:C8,"<0")+1,A1:C8,2))**

Now, this has become a simple calculator which automatically calculates the payback period of the investment or the project.

You can consider different projects with different cash flows but the life of the project should be 7 years as I have designed for the project life of 7 years.

You can consider different projects with different cash flows but the life of the project should be 7 years as I have designed for the project life of 7 years.

Although it is one of the easiest methods to determine the feasibility of the investment but it doesn’t consider the time value of money while determining the payback period.

Therefore, it can’t be used alone for decision making. It is the crude method to shortlist the project. The project having a shorter payback period is often considered desirable than the one having the longer payback period.

]]>Although it is one of the easiest methods to determine the feasibility of the investment but it doesn’t consider the time value of money while determining the payback period.

Therefore, it can’t be used alone for decision making. It is the crude method to shortlist the project. The project having a shorter payback period is often considered desirable than the one having the longer payback period.

The **VLOOKUP** function has wide utility and is one of the most important functions in Excel. This function has many aspects that I will try to explain in simple language for the better understanding of the beginners in Excel 😊

The**VLOOKUP** (V stands for vertical) function looks for the data in the specified column and returns the output from different column whose value corresponds to the lookup value.

__The syntax and function of its parameters:__

******= VLOOKUP (Lookup_value, Table_array, Column_index_number, [Range_lookup])**

As you can see that this function has 4 parameters, generally 3 parameters are required and the 4th one is optional. Actually, the 4th parameter has its importance that I will explain to you as we proceed further in this tutorial.

__For example:__

=**VLOOKUP(35,A1:B21,2)** *(It will look for number 35)*

=**VLOOKUP(“Dorothy”,A1:B21,2)** *(It will look for the name “Dorothy”. Remember to put the text in the double inverted commas)*

=**VLOOKUP(C1,A1:B21,2)** *(It will look for the value entered in the cell C1)*

For example, if your range is B2:C21, then the lookup_value must exist in column B2 and you should count it as column number 1.

The values can be text, date or the numbers and these values are case insensitive that is the lower case and the upper case is treated as identical.

The formula**VLOOKUP(35,A1:B21,2)** will look for number 35 in the column A1 to A21 as A is the first column of the table_array

**= VLOOKUP (35,A1:B21,2)**

This formula will look for number 35 from the column A1 to A21 and returns the value from column B which is in the same row of number 35.

**Let us better understand it with the help of an example ****😊**

Mrs. Hilton is planning to hold the parent-teacher meeting to discuss the performance of the students in the test held last month.

There are 20 students in her class and she wants to facilitate the meeting by avoiding searching the name of the student from the list and telling her/his performance every time when the parents of the concerned student come and meet her.

She is planning to find a way that whenever she enters the name of the students in her desktop, her/his performance get displayed on the screen.

The VLOOKUP function can be used here to save her time and labor.

__The list of the students along with their marks are as follows__:

The

As you can see that this function has 4 parameters, generally 3 parameters are required and the 4th one is optional. Actually, the 4th parameter has its importance that I will explain to you as we proceed further in this tutorial.

**Lookup_value**is the value which you want to look in the column. It can be any number, text, date or a cell reference.

=

=

=

**Table_array**

For example, if your range is B2:C21, then the lookup_value must exist in column B2 and you should count it as column number 1.

The values can be text, date or the numbers and these values are case insensitive that is the lower case and the upper case is treated as identical.

The formula

**Col_index_num**is that column which contains the return. Again, refer to the same formula

This formula will look for number 35 from the column A1 to A21 and returns the value from column B which is in the same row of number 35.

Mrs. Hilton is planning to hold the parent-teacher meeting to discuss the performance of the students in the test held last month.

There are 20 students in her class and she wants to facilitate the meeting by avoiding searching the name of the student from the list and telling her/his performance every time when the parents of the concerned student come and meet her.

She is planning to find a way that whenever she enters the name of the students in her desktop, her/his performance get displayed on the screen.

The VLOOKUP function can be used here to save her time and labor.

__The marks of Henry can be obtained using VLOOKUP formula are as follows__:

She can further make this process easy by writing the lookup value in another cell and using **VLOOKUP **formula by referring the cell number.

__Please see the following screenshot__:

Generally, we are required to retrieve information from another worksheet. In that case, Mrs. Hilton can use the following formula to get the desired result.

By now, I think the concept of the first 3 parameters of this function is clear to you 😊

__VLOOKUP function with Exact Match __

When the 4th parameter is set to**False,** then the formula searches for the value which is exactly same as the lookup_value.

And if there are two or more values similar to the lookup_value, then the formula will choose the 1st same value found and return the answer.

__Please see the following screenshot__:

- The 4th parameter Range_lookup is optional but is very important and can give different results when you write True or False in this place. It does two functions of finding the exact match when its value is set to False and of finding the approximate match when its value is set to True or omitted.

When the 4th parameter is set to

And if there are two or more values similar to the lookup_value, then the formula will choose the 1st same value found and return the answer.

- In case the exact match is not found then it returns #NA

If the range_lookup value is set to

Actually, first, it searches for the exact match with the lookup_value and if in case, it doesn’t find the exact match then it looks for the closest value less than the lookup_value.

In order to get the right results, arrange the first column that is the

I hope the above screenshot clears the functioning of VLOOKUP with an approximate match 😊

There are times when we do not remember the exact data but can recollect the part of it. We can retrieve the complete data by combining part of data with the wildcard characters.

- “?” is used to match any single character
- “*” is used to match the string of characters

= VLOOKUP(“Dor*”,A1:B21,2,False) finds the name starts with “Dor”. It is “Dorothy” and the output is **31%**

= VLOOKUP(“????????”,A1:B21,2,False) will find the name which has 8 characters and returns the value corresponding to it.

The name with 8 characters is “Angelina” and the value corresponding to her is**76% (Output)**

**Note:** *For the wildcard characters to work properly, always set the last parameter to False, otherwise it will not function and will return #NA. If more than one values meet the set criteria then the first found value will be returned as the output by the formula.*

If I am not wrong then by now you have become quite familiar with this function 😊

__Conclusion:__

VLOOKUP function will give you the desired result if keep the following things in mind:

]]>= VLOOKUP(“????????”,A1:B21,2,False) will find the name which has 8 characters and returns the value corresponding to it.

The name with 8 characters is “Angelina” and the value corresponding to her is

If I am not wrong then by now you have become quite familiar with this function 😊

VLOOKUP function will give you the desired result if keep the following things in mind:

- The VLOOKUP function cannot look at its left and it always searches for the values to its right. Therefore, always start with the leftmost column in Excel
- When searching with approximate match either set the 4th parameter as TRUE or omit it.
- When you are searching with the exact match then set the 4th parameter as False
- To avoid erratic results, always sort the first column of the table_array in the ascending order while searching with the approximate match (the 4th parameter is set the True or omitted)
- Always use False as the last parameter while using the wildcard characters
- If you specify range as D2:F21 then count D as the first column, C as the second column and so on