Function: DAYS360()

📘 Definition:

The DAYS360() function calculates the number of days between two dates, but assumes each month has 30 days and each year has 360 days (12×30).

This is commonly used in accounting, interest calculations, or loan schedules, where companies prefer standardized 30-day months for consistency.

🧩 Syntax:  =DAYS360(start_date, end_date, [method])


• start_date → The beginning date

• end_date → The ending date

• method → (optional)

  • FALSE (default) → Uses U.S. method (NASD)

  • TRUE → Uses European method

🧠 Example (Indian Perspective):

So, from 1-Apr-2024 to 31-Mar-2025 (a full financial year in India 🇮🇳) = 360 days in 360-day method, even though it’s 365 days in reality.

🪜 Step-by-Step Explanation:

1. A2 = 01-Apr-2024, B2 = 30-Jun-2024

2. Formula → =DAYS360(A2,B2)

3. Excel assumes:

   • April = 30 days

   • May = 30 days

   • June = 30 days
     → Total = 90 days

4. Useful in financial statements, loan amortizations, or interest accruals.

💡 Tip:

• DAYS() gives actual days difference.

• DAYS360() gives standardized 30-day months (used in accounting).

🎯 Why It’s Useful:

• Common in Indian accounting for interest, rent, loan, or EMI calculations.

• Ensures uniformity in months for comparisons across years.

• Helps avoid date irregularities caused by months having 28, 29, 30, or 31 days.

🧑‍💻 Project Task 1: Interest Calculation (Bank Loan)

👉 Tasks:

1. Calculate the duration using =DAYS360(B2, C2)

2. Calculate interest:

    

   =Principal * (Interest Rate) * (Days / 360)


   (Assume ₹1,00,000 principal for all)

3. Compare who paid the highest interest.

🧑‍💻 Project Task 2: Rent Duration Calculation

👉 Tasks:

1. Calculate total rent days using =DAYS360(B2, C2)

2. Then calculate total rent = (Days / 30) * Monthly Rent

3. Compare which tenant has the longest occupancy and highest rent paid.