# How to Calculate Hourly Rate in Excel (2 Quick Methods)

Weâ€™ll use the following dataset which represents the daily paid amount of the writers of a content publishing site. We’ll determine each writer’s effective hourly rate.

### Method 1 – Manual Formula to Calculate Hourly Rate in Excel

Since Excel stores the time as a fraction of a day, you will have to multiply the hours by 24 to use the cell as a numeric value of hours.

• Select cell E5.
• CopyÂ the following formula in it:
`=D5/(C5*24)`
• PressÂ EnterÂ to get the result.

• Drag down the Fill Handle icon to copy the formula for the other cells E6:E11.

• You will get all the writersâ€™ hourly rates.

### Method 2 – Use QUOTIENT Function to Calculate Hourly Rate in Excel

• Type the following formula in Cell E5:
`=QUOTIENT(D5,(C5*24))`
• Hit the Enter button to get the output.

• Drag down the Fill Handle icon over the cells E6:E11.

• You will get all the other hourly rates as integer values.

## How to Calculate Payment with a Formula Using the Hourly Rate in Excel

If the hourly rate is given, then we can easily find the total payment for a specific time by multiplying the rate and time. For that, we have modified the dataset by replacing the â€˜Paidâ€™ column with â€˜Rateâ€™.

• In Cell E5, input the following formula:
`=(C5*24)*D5`
• HitÂ Enter.

• Drag down the Fill Handle icon to finish.

• You will get all the payments for the writers.

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Md. Sourov Hossain Mithun

Md. Sourov Hossain Mithun, an Excel and VBA Content Developer at Softeko's ExcelDemy project, joined in October 2021. Holding a Naval Architecture & Marine Engineering degree from BUET, Mithun showcases expertise during his two-year tenure. With over 200 published articles on Excel topics, he earned a promotion to Team Leader, excelling in leading diverse teams. Mithun's passion extends to Advanced Excel, Excel VBA, Data Analysis, and Python programming, contributing significantly to the innovative and dynamic environment of ExcelDemy... Read Full Bio