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If I enter 123456, it should be displayed as 1.23456. However, the value stored internally should still be 123456.

Is this possible in Excel? Thanks for your time.

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right click the cell and go to format, then down to custom format and enter:
0"."00000

This will change the display format with a "decimal" after the first digit, but it won't change the value of the contents of the cell (as seen in the formula bar)

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+1. Thanks. Is it also possible to display only 2 digits after the '.'? Like 1.23? – Gowtham Mar 9 '12 at 16:21
    
you want to have a custom display and trim the number in the same cell as the original number? No, I don't think that's possible. I can do that in a new column though, but not with the original data. – Raystafarian Mar 9 '12 at 16:51

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