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How to multiply hours and minutes by an hourly rate in Excel?

Supposing, you have a list of time cells that indicate the worked hours and minutes in Column A, and Column B contains the hourly rate, now, you want to calculate the payment based on hours and rate as following screenshot shown. This article, I will talk about how to calculate the payment with worked hour and rate in Excel.

Multiply hours and minutes by an hourly rate with formula in Excel


Multiply hours and minutes by an hourly rate with formula in Excel


The following simple formula may help you to calculate the payment based on the hour and rate, please do as this:

1. Enter this formula: =A2*B2*24 into a blank cell to output the result, and then drag the fill handle down to the cells that you want to fill this formula, see screenshot:

2. Then you should change the formatting of the formula cells to general formatting, click General from the General drop down list under the Home tab, now, you will get the correct results as you need, see screenshot:


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Comments (12)
Rated 5 out of 5 · 1 ratings
This comment was minimized by the moderator on the site
What is the *24 in the formula of A!*B1*24?
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24 is the hours
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Thank you so much! Very helpful!
This comment was minimized by the moderator on the site
Exactly what I was looking for, thank you!
This comment was minimized by the moderator on the site
How do I get my rate of pay and my hours worked before taxes taken out of what an estimate might be for my paycheck?
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Thank you for this
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Hello,
You are welcome. Glad it helps. Any questions, please feel free to contact us. Have a great day.
Sincerely,
Mandy
This comment was minimized by the moderator on the site
Wow! I was struggling with this for so long. Thank you for posting this and also for simplifying it so a person like me could understand!
Rated 5 out of 5
This comment was minimized by the moderator on the site
Hello,
You are welcome. Glad it helps. Any questions, please feel free to contact us. Have a great day.
Sincerely,
Mandy
This comment was minimized by the moderator on the site
Ciao, io ho la colonna delle ore scolte nei vari giorni e voglio mettere nella colonna in fianco il totale dei soldi, quindi dovrei moltiplicare le ore per 8€ (quindi ore per soldi all'ora), come posso fare? Grazie mille..
This comment was minimized by the moderator on the site
Hi, Luca,
To solve your proble, you just need to this formula: =A2*8*24
After getting the result, please chaneg the cell format to General.
Please have a try, thank you!
This comment was minimized by the moderator on the site
What this fails to explain, but i found helped me properly understand, is that excel sees hours and minutes as a number. so one day which is actually 24 hours = 1, half a day or 12 hours = 0.5, a quarter of a day or 6 hours = 0.25. Hence why when you multiply a time value by a number you get a stupid result, unless you also multiply it by 24.
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