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The current advancements in the field of heat exchangers have expanded their range of applications in many industries. The most important factor while investing in the heat exchanger is sizing them for a particular application. The sizing of a shell and tube heat exchanger is always a challenge, often causing customers to invest in either an oversized or undersized heat exchanger. The purpose of this study is to solve the customer’s conundrum of investing in an appropriate size shell and tube heat exchanger. The objectives of this study were (a) to develop and implement a spreadsheet program for optimization of overall heat transfer coefficient of shell and tube heat exchanger, (b) to determine profitability analysis using the Net Present Value (NPV) method, (c) to analyse the price sensitivity using the Monte Carlo simulation. The iteration and optimization are based on Kern’s method. The user defines the process parameters such as the temperature of hot and cold streams, mass flow rates and fluid densities. The user also assumes the tube related properties. The final sizing of the shell side is determined along with Reynolds number and pressure losses on the shell and tube side. The pressure losses are then converted into the operating cost of the heat exchanger to determine NPV. The Monte Carlo simulation calculates 1000 different NPVs for a given scenario, thus facilitating the user’s crucial decision-making process. This study is probably a first instance to combine preliminary sizing of the shell and tube heat exchanger with price sensitivity analysis using the Monte Carlo method.