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Dynamic ArraysLevel 5: Blue (Analytics & Pivot Models)Difficulty: Advanced
How to Use LET in Excel
Assigns names to calculation results within a formula, boosting calculation performance and readability.
Formula Syntax
=LET(name1, name_value1, name2, name_value2, , calculation)
Arguments Breakdown
| Argument | Requirement | Purpose & Details |
|---|---|---|
| name1 | Required | A variable name (e.g. rate, subtotal). |
| name_value1 | Required | The value or formula assigned to name1. |
| calculation | Required | The final formula that uses the assigned names. |
Step-by-Step Practical Business Example
Suppose you have the following dataset in Excel cells A1:D4:
| Base Price | Discount % | GST % | Final Price |
|---|---|---|---|
| 1000 | 0.1 | 0.18 | 1062 |
Applied Formula:Result: 1062
=LET(discounted, A2*(1-B2), discounted + (discounted*C2))
How it works: Calculates the discounted price once into a variable, then calculates GST on it without repeating logic.
Common Errors & How to Fix Them
#NAME?
Why it happens: Typo in variable name or using a reserved Excel formula name as a variable.
Fix: Ensure your variable names are unique and spelled identically throughout the formula.
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