How to Simplify Formulas with LET in Excel

Name the pieces of a formula with LET so you calculate them once and read them like plain English.

You will learn to

• Name an intermediate result and reuse it
• Chain several named steps
• Build a margin calculation from named parts

How it works

LET assigns names to values inside a single formula: =LET(fee,B2*C2,IF(fee>2000,fee*0.95,fee)). The fee is calculated once and reused by name, so the formula is shorter, easier to read and faster than repeating B2*C2 three times.

You can define several names in order, and later names can use earlier ones: =LET(sub,B3*C3+D3,tax,sub*0.08,sub+tax). The last argument is always the result. Names cannot look like cell references (such as A1) and only exist inside that one formula.

=LET(fee,B2*C2,IF(fee>2000,fee*0.95,fee))