In our daily life, we often need to **calculate savings percentage 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 percentage in Excel**. So, let’s start the article and explore these methods.

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## 3 Simple Methods to Calculate Savings Percentage in Excel

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 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 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.

## 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. You can also have a look at our other useful articles on Excel functions & formulas on our website **ExcelDemy**.