Here are some simple rules you need to know to use the ROUNDing functions in Excel:
You can download the workbook here if you want to follow along.
We are going to look at 4 basic rounding functions in Excel:
For the first 3, the number of digits will indicate to which place you want to round the number:
2 – penny
1 – dime
0 – whole number
-1 – ten
-2 – hundred
-3 – thousand
-4 – ten thousand
-5 – hundred thousand
-6 – million
Here you can see how each function and the basic 6 number digits affected our number 5,175,893.5760:
In this case ROUND and ROUNDUP treated the number the same way, while ROUNDDOWN reduced the number to the appropriate position.
MROUND is very useful to round a number to a specific multiple. In our example we took the number 5,175,880 and using MROUND and the multiple of 48, rounded it UP to 5,175,888. Similarly, taking the number 5,175,890 and using MROUND and the same multiple of 48 caused the number to round DOWN to 5,175,888. MROUND will round it up when the number is equal to or greater than the half way point, and down if it is less:
Well, that about “rounds” it up for this post! Hope this is useful to you.