### Percentage Increase Formula in Excel

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This Excel Tutorial will teach you how to increase a number by a percentage in Excel.

## Increase a Number by a Percentage

To increase a number by a percentage in Excel, simply multiple the number by 1 + the percentage increase.

`=old + (1+ percentage increase)`

In Example above:

`$500 + (1+.07) = $535`

After increasing the number by a percentage, the result may appear as a decimal, without the dollar sign. To change the result into currency format, change the cell Number Formatting to Currency (CTRL + SHIFT + $):

## The Text Function

Let’s use the TEXT Function to add the year 2 price into a string of text. Why do we need to do this? Without the TEXT Function, numbers appear unformatted when added to text. Even though the spreadsheet says $62.50 , when added to text it will appear as 62.5.

To format currency numbers within a string of text use a formula like this:

`="The price for year 2 is " & TEXT(F4,"$00.00") &".""`

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