Declaring variables in Excel Cells

[Clippy]

Is it possible to declare variables in Excel cells and use them as parameters for formulas in other cells?

For example I would declare var1=10 in one of the cells.

In another cell I would use var1 for calculation like: =var1*20.

[ayi]

You can name cells. This is done by clicking the Name Box (that thing next to the formula bar which says “A1” for example) and typing a name, such as, “myvar”. Now you can use that name instead of the cell reference:

= myvar*25