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My question is how to define age calculation in excel by formula?

Enter DOB in one cell. For example in Cell A1. Then in the cell where you want to calculate Age there write as =(TODAY()-A1)/365.25 .25 has been added to the 365 because to accommodate the leap year days in between.
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A dollar sign $ is called a locked cell reference. Locked cell references are one of the building blocks of Excel modeling. Without them, you will waste endless amounts of time re-writing formulas.
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