Can i create a formula field to calculate the time in business hours between Case created date to now/Closed date? I'm looking for a non code solution which is equivalent to finding the difference in date/time using apex with the BusinessHours.diff() method.
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I'm pretty sure this can't be done without code. There is no formula that accesses the business hours settings. Sorry!
You could try this answer which calculates the time difference http://stackoverflow.com/questions/11126378/salesforce-formula-calculate-business-hours-between-two-dates/11129346 but you would have to make assumptions about the business hours and the formula wouldn't mirror exactly to them. Hopefully close enough