PROVIDING ACCURATE, RELIABLE AND STRAIGHT TO THE POINT KNOWLEDGE ABOUT DIFFERENT IT TOOLS EXPLAINED WITH PRACTICAL EXAMPLES

EXCEL FUNCTIONS-RAND

INTRODUCTION

RAND FUNCTION helps us to generate a random number.

Random number is used for creating some application where we need to create a random number.

Returns an evenly distributed random real number greater than or equal to 0 and less than 1.

A new number will be calculated every time the formula is refreshed or workbook is loaded.

RAND FUNCTION returns the random real number between 0(including 0) and less than 1.

THERE ARE A FEW PREREQUISITES WHICH WILL ENABLE YOU TO UNDERSTAND THIS FUNCTION IN A BETTER WAY.

Basic understanding of how to use a formula or function.
Basic understanding of rows and columns in Excel.
Some information about the financial terms is an advantage for the use of such formulas.
Of course, Excel software.

Helpful links for the prerequisites mentioned above

The Syntax for the function is

=RAND()

SUPPOSE WE NEED TO CALCULATE A RANDOM NUMBER BETWEEN A AND B

=RAND()(b-a)+a

Suppose we need to calculate a random number between 0 and 100.

The cell E8 is used to create random numbers.

The function used is

=ROUND(RAND()*100,0)

The function has been multiplied by 100 because RAND() will create a number with decimals.

So to round it off, we are using ROUND FUNCTION with number after decimal as 0.

Now whatever number is generated, it’ll be multiplied by 100 and it’ll be round off and we’ll get a random number between 0 and 1.

RAND() doesn’t create a whole number but a decimal number between 0 and 1.

If we need to create a random number between any two numbers, we need to round it off and multiply with the different of those numbers.