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welcome today we'll explore named
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constants in Excel previously we
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discussed named ranges which are defined
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names that reference specific cells or
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ranges named constants however are not
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tied to any particular cell or range
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they exist independently and can be used
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throughout the workbook this simplifies
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your worksheet by reducing clutter and
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allows you to use meaningful names for
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values making your formulas more
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intuitive and easier to
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understand creating a named constant in
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Excel is simple let's demonstrate this
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with an example suppose we have product
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data with columns for products and price
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in the third column we need to calculate
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the total price including tax assume the
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tax rate is 30% using the formula equals
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B2 asterisk 1 + 30% in cell C2
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calculates the total price including the
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tax and Returns the expected value
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instead of directly entering 30% in our
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formulas we can create a name constant
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called tax rate to hold this value this
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makes formulas more readable and easier
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to understand to create a named constant
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go to the formulas Tab and select Define
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name in the new name dialogue box enter
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the name tax rate for the constant set
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the scope to workbook and in the refers
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to field type equals 30%
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now let's use the name constant in our
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formula replace the 30% in your formula
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with the tax rate constant Excel will
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automatically substitute the value you
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defined making the formula cleaner and
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more intuitive instead of seeing an
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arbitrary value like 30% in the formula
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you'll now see a meaningful name that
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clearly explains what the value
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represents name constants also make
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updating values across your workbook
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much easier if the tax rate changes you
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only need to update constants definition
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and the changes will automatically apply
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to all formulas using it and that's how
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you can create and use name constants in
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Excel if you found this tutorial helpful
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don't forget to like the video subscribe
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thank you for watching and I'll see you
