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In this Excel 10 tutorial, the instructor demonstrates how to add and remove strikethrough text in Microsoft Excel. To add strikethrough, select the desired cells, click the arrow button to open the format cells dialog box, check the strikethrough option under "Effects," and click OK. The selected cells will now display strikethrough. To remove it, repeat the process, uncheck the strikethrough option, and click OK to revert to normal. The tutorial emphasizes the ease of this function and encourages viewers to subscribe for more content, including a playlist on Microsoft Excel VBA.