What is the keyboard shortcut key to lock cell references in a formula? O Alt F4 – function key O F2 – function key O Cori QUESTION 26 Excel: Range of cells (C3:C16) contains prices for products before Tax. Cell E3 contains tax rate Calculate prices for all products after tax in cells (D3:D 16). Select the correct formula and the following action. Select D3, type “C”E3) in formula bar, check. Copy formula to the cells Da to D16 with fill handle Select D3. type (C3-C3-E3) in formula bar, check. Copy formula to the cells D4 to 016 with fill handle Select D3.type ={C3-C35E53) in formula bar, check. Copy formula to the cells D4 to D16 with fat handle Select D3.type =(C3+C3-5053) in formula bar, check. Copy formula to the cells D4 to D16 with us handle
The Correct Answer and Explanation is :
Answer to Keyboard Shortcut for Locking Cell References:
The correct shortcut key to lock cell references in Excel is F4. Pressing F4 toggles through different reference types (absolute, relative, mixed) for the selected cell reference in a formula.
Correct Formula for Prices After Tax:
The formula to calculate the prices after tax is:
=(C3 * (1 + $E$3))
- Select cell D3, type the formula
=C3 * (1 + $E$3)into the formula bar, and press Enter. - Use the fill handle to drag the formula down from D3 to D16.
Explanation (300 Words):
In Excel, formulas are used to calculate dynamic values based on the data in cells. For this task, we need to calculate the prices after tax, where:
- C3:C16 contains the base prices of products.
- E3 contains the tax rate (e.g., 5% or 0.05).
To account for the tax, we multiply the base price in C3 by (1 + Tax Rate). This formula calculates the total price by adding the tax directly to the base price. The correct formula is:
=C3 * (1 + $E$3)Here’s why:
- C3: Refers to the base price for the first product.
- $E$3: The dollar signs make the reference absolute. This ensures that the formula always uses the tax rate in cell E3, even when copying it to other cells.
Steps to implement:
- Type Formula: In D3, type
=C3 * (1 + $E$3). - Lock Reference: Press F4 after typing E3 to lock the reference.
- Fill Formula: Use the fill handle to copy the formula down to cells D4:D16.
Alternative formulas provided in the question (like subtraction or using curly braces) are incorrect because they either apply incorrect calculations or use syntax that does not align with Excel’s functions for this task.