Excel LET function helps in assigning names to the variables that are repeatedly used in a formula.
Assign a name to the calculation results in a formula. Useful for storing intermediate calculation and values by defining a name inside the formula. This makes formula easy to read and understand.
Returns the normal formula result
=LET (name1, name_value1, calculation_or_name2,[name_value2…)
|name1||First name to assign to a value or cell reference||Mandatory|
|name_value1||The value which is assigned a name1||Mandatory|
|calculation||A calculation that uses names within LET Function||Mandatory|
- LET function can assign names to variables but these names can be used only within the scope of the function.
- If you have to use the same expression or calculation multiple times in a formula, the LET Function assigns a name and allows you to call it by that name and use it multiple times in the formula. This makes it easier to read the formula and make it run faster.
- LET uses about 126 name and name-value pairs
- You cannot assign the same name twice in the function for different variables.
- LET Function is not case-sensitive.
Let’s say you have to use the tax rate “10%” multiple time in a formula, so instead of repeatedly typing it, you can assign a name to it. So we assume we assign the name “TaxRate” to it. So the formula works this way:
Formula used: =LET(Tax,$C$5,D8*(1+Tax))
Tax: Name assigned to the value
$C$5: Name value i.e. 10%
D8*(1+Tax): Calculation. D8 is the revenue to be multiplied by the Tax Rate.
So here we aim at getting the Revenue amount including the tax rate, which returns the answer as shown in the below image: