SUMPRODUCT
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10. Most Used Functions
Data Entry – Introduction Course
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Using Excel’s powerful SUMPRODUCT features to determine the total of the products of the matching numbers in one or more ranges.

Explanation: the SUMPRODUCT feature performs this calculation: (2 * 1000) + (4 * 250) + (4 * 100) + (2 * 50) = 3500. The SUMPRODUCT feature is highly flexible and can generate the same results as many Excel built-in functions and even array formulas.