In our daily life, we often need to calculate savings percentages in Excel. Especially when there are a lot of sales going on, we get a lot of discounts on various products. By using Excel, we can easily calculate the savings percentage of any product. In this article, we will learn 3 simple methods to calculate savings percentages in Excel. So, let’s start the article and explore these methods.

## How to Calculate Savings Percentage in Excel: 3 Simple Methods

This section of the article will teach you three simple ways to calculate savings percentages in Excel.

Not to mention that we have used the *Microsoft Excel 365 *version for this article; you can use any other version according to your convenience.

### 1. Utilizing Percent Style Button

Utilizing the Percent Style button is one of the easiest ways to calculate savings percentage in Excel. Let’s say, we have the “**Discounted Price of ABC Store**” for some of their Products. Our goal is to calculate the savings percentage. Let’s follow the steps mentioned below to do this.

**Step 01: Calculate Fraction of Discount**

- Firstly, create a new column named
**Savings Percentage**as shown in the following image.

- After that, enter the following formula in cell
**E5**.

`=(C5-D5)/C5`

Here, cell **C5 **refers to the cell of the **Price **column, and cell **D5 **indicates the cell of the **Discounted Price** column.

- Then, press
**ENTER**.

As a result, a fraction of the discount for **Smartphone **will be available on your worksheet.

- Now, use the
**AutoFill**option of Excel to get the rest of the outputs.

**Step 02: Convert to Percentage Format **

- Firstly, select the cells of the “
**Savings Percentage**” column. - Then, go to the
**Home**tab from**Ribbon**. - Following that, click on the
**Percentage Style**option from the**Number**group.

Consequently, you will have the savings percentages for various “**Products**” as marked in the following picture.

### 2. Applying Keyboard Shortcut

Applying the keyboard shortcut is another smart way to calculate savings percentages in Excel. For instance, let’s say we have “**Monthly Cost Data**” of a person for 2 months. Our aim is to calculate the savings percentage by applying a keyboard shortcut. Let’s use the steps outlined below to do this.

**Steps:**

- Firstly,
**follow the procedures mentioned in Step 01 of the 1st method**to get the following output.

- Following that select the cells of the “
**Savings Percentage**” column and press the keyboard shortcut**CTRL**+**SHIFT**+**%**.

There you go! Your savings percentages will be available as demonstrated in the image below.

### 3. Using Number Format Feature

Using the **Number Format** option is one of Excel’s most efficient ways to calculate savings percentage. Let’s explore the steps to this in the following section.

**Steps:**

- Firstly,
**follow the steps used in Step 01 of the 1st method**and you will have the following outputs as marked below.

- After that, select the cells of the “
**Savings Percentage**” column and go to the**Home**tab. - Then, click on the
**Number Format**option from the**Number**ribbon group.

As a result, the **Format Cells **dialogue box will open on your worksheet.

*Note: **You can also use the keyboard shortcut CTRL + 1 to open the Format Cells dialogue box directly.*

- Now, in the
**Format Cells**dialogue box, choose the**Percentage**option. - After that, you can add how many decimal places you want in the percentage format by clicking the increase and decrease buttons.
- Finally, click
**OK**.

Therefore, you will have the **savings percentage** as demonstrated in the following picture.

## How to Calculate Cost Percentage in Excel

While working in Excel, we often need to** calculate the cost percentage**. By calculating the cost percentage, we can understand what percentage of the total expenditures we are spending in each “**Category**”. We can easily identify if we are overspending or not. Using Excel, we can **calculate the cost percentage** by following some simple steps. Let’s follow the instructions outlined below to do this.

**Steps:**

- Firstly, use the following in cell
**D5**.

`=C5/SUM($C$5:$C$9)`

Here, cell **C5 **refers to the cost of “**Food**” in **January **month, and **the SUM function** will return the summation of the range of cells **$C$5:$C$9**.

- Following that, hit
**ENTER**.

Subsequently, you will have the following output in cell **D5**, as marked in the image given below.

- Now, you can use the
**AutoFill**feature of Excel to have the remaining outputs.

- After that, select the cells of the “
**Cost Percentage**” column. - Next, go to the
**Home**tab from**Ribbon**. - Finally, click on the
**Percentage Style**button.

Consequently, you will have the cost percentages against each “**Category**” as shown in the image below.

## How to Create an Annual Cost Savings Calculator in Excel

An annual cost savings calculator can help us keep track of our expenses. Excel is quite a powerful software. In Excel, we can create an annual cost-saving calculator by following some easy steps. Let’s say we have the “**Unit Cost Data**” as our dataset. In the dataset, there are **2 **options for expenses. We will calculate the annual cost savings between the **2 **options. Let’s follow the steps to achieve this.

**Steps:**

- Firstly, create a table as demonstrated in the following image.

- After that, select the cells of the “
**Time Unit**” column and go to the**Data**tab from**Ribbon**. - Then, click on the
**Data Validation**option from the**Data Tools**group.

- Now, choose the
**List**option from the drop-down, in the**Allow**field. - After that, click on the box of
**Source**and select cells of range**B18:B23**. - Finally, click
**OK**.

As a result, a drop-down list will be available in each cell of the “**Time Unit**” column.

- Now, select the options demonstrated in the image below in the cells of the “
**Time Unit**” column.

- Following that, enter the formula given below in cell
**F7**.

`=D7*INDEX($I$6:$J$11,MATCH(E7,$I$6:$I$11,0),2)`

Here, cell **D7 **indicates the cell of the **Qty **column, the range** $I$6:$J$11 **indicates the cells of the **Time Unit List** table, and cell **E7 **is the cell of the **Time Unit **column.

**Formula Breakdown**

**MATCH(E7,$I$6:$I$11,0)**→**The MATCH function**gives us the location of a lookup value in a row or column.**E7**→ It is theargument.*lookup_value***$I$6:$I$11**→ It indicates theargument.*lookup_array***0**→ It is theargument.**[match_type]****Output**→**5**

**INDEX($I$6:$J$11,MATCH(E7,$I$6:$I$11,0),2)**→ It becomes**INDEX($I$6:$J$11,5,2)**.**The INDEX function**returns values from multiple ranges.**$I$6:$J$11**→ It is theargument.*array***5**→ This refers to theargument.*row***2**→ It is theargument.**[column_num]****Output**→**12**.

**D7*INDEX($I$6:$J$11,MATCH(E7,$I$6:$I$11,0),2)**→ It becomes**D7*12**.**Output**→**12**.

- Then, hit
**ENTER**.

As a result, the “**Annual Qty of TV Subscriptions**” will be available in cell **F7 **as shown in the following picture.

- Now, drag the
**Fill Handle**up to cell**F11**to obtain the remaining outputs.

- Now, use the following formula in cell
**G7**to calculate the “**Annual Cost**”.

`=C7*F7`

Here, **C7 **and** F7 **cells refer to the starting cells of the “**Unit Cost” column**, and “**Annual Qty**” column respectively.

- Subsequently, press
**ENTER**.

As a result, the annual cost of “**TV subscriptions**” will be displayed in cell **G7**.

- After that, drag the
**Fill Handle**up to cell**G11**to get the annual cost for the rest of the categories.

- Then, enter the following formula in cell
**G12**.

`=SUM(G7:G11)`

Here, the range of cells **G7:G11 **indicates the cells of the “Annual Cost” column, and the **SUM **function will calculate the “**Total Cost**” by adding these up.

- Next, hit
**ENTER**.

Consequently, you will have the “**Total Cost**” in a year as shown in the image below.

- Now, follow the same steps and complete the table for
**Option 2**as shown in the image below.

- At this stage, create the “
**Annual Cost Savings**” table as marked below.

- Following that, use the formula given below in cell
**D27**.

`=ABS(C27-C28)/MAX(C27:C28)`

**C27**is the “Total Cost” for

**Option 1**, and cell

**C28**indicates the “Total Cost” of

**Option 2**.

**The ABS function** returns the absolute value of a number, and **the MAX function** gives us the maximum number from a range of numbers.

- Then, press
**ENTER**.

Consequently, you will have the cost savings percentage as demonstrated in the following picture.

## Practice Section

In the **Excel Workbook**, we have provided a **Practice Section **on the right side of the worksheet. Please practice it by yourself.

**Download Practice Workbook**

## Conclusion

So, these are the most common & effective methods you can use anytime while working with your Excel datasheet to calculate savings percentage in Excel. If you have any questions, suggestions, or feedback related to this article you can comment below.

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