Solved Formulating Time to calculate rates

July 29, 2013 at 09:57:24
Specs: Windows 7
I'm trying to identify costs based on the hours of a delay/event. I need to take to total amount of time (in hours and minutes) and multiply by a given rate.
For example I need to convert the 7 hours 10 minutes, into 7.167, or 5 hours and 45 minutes into 5.75, etc.

Currently I have:
Start Time: Cell E3 = 07:00
End Time: Cell F3 = 14:30
Total Time: Cell G3 = F3-E3 (Which produces a value of 7:30 instead of 7.5)
Rate: Cell H3 = 50
Total Cost: Cell I3 = G3 * H3 (Which produces a number of 15.63??)

Finally I am using Excel 2010.


message edited by tgosman

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July 29, 2013 at 10:19:07
✔ Best Answer
This formula will convert a time to it's decimal equivalent:


This will calculate your time difference in a single cell:


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July 29, 2013 at 10:28:42
That works, thank you so very much!
I'm curious to know why it works, so that I can apply this type of solution as it may arise. If you have time, any chance you could enlighten me on this? Maybe, just why the *24 seems to be necessary to make the calc work?
Thanks either way!

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July 29, 2013 at 11:06:34

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