A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
This is simply yet-another example of arithmetic anomalies that commonly arise because Excel uses 64-bit binary floating-point to represent numeric values internal.
For example, IF(10.1 - 10 = 0.1, TRUE) returns FALSE(!) because 10.1 - 10 is 0.0999999999999996.
The work-around is: whenever you expect a calculation to be accurate to some number of decimal places (2, in your example), explicitly round to that number of decimal places (and not to an arbitrary number of decimal places like 10, as some people suggest).
Your sum should be =ROUND(SUM(A1:A11),2) .
These "anomalies" are not considered to be bugs per se, but a limitation of the internal representation of numeric values. Most computer applications have the same limitations. (Although some do not because they use a different internal representation.)
In general, the problem is: most decimal fractions cannot be represented exactly in 64-bit binary floating-point. And the approximation of a particular decimal fraction depends on the magnitude of the value.
For example, notice the different approximation of 0.1 in the following numbers:
10.1 10.0999999999999,996447286321199499070644378662109375
0.1 0.100000000000000,0055511151231257827021181583404541015625
I use period for the decimal point and comma to demarcate the first 15 significant digits, which is the most that Excel formats, rounded.