Step 4: Another formula you can use to calculate percentage is simply applying the / key in between two cells. For example, to pass a driving theory test, I need to get 80% of the questions correct.

However, Excel cannot recognize a percentage formula, which means it cannot automatically format the figure as a percentage. Instead, the resulting figure is in decimal format.

The formula tells Excel to compute percentage markup and place it in the Percent Markup column. Copy the formula by clicking the black square in the lower right corner of cell C2 dragging down.