This is my formula with concatenation: =K3/K1*100 & "c" & " Each"

This is the result of the values in K3 divided by K1: 6.41666666666667c Each

I would like to limit the decimal places to two: 6.41c Each.

I have tried to format the cell and none of the formatting options have any effect.

If possible I would like to use the rounding function but I do not know how to combine the formula + text + rounding.

Thank you.