ROUND Function
Rounds up a number to a specified number of digits
Rounds up a number to a specified number of digits
The ROUND Function is categorized under Math and Trigonometry functions. The function will round up a number to a specified number of digits. Unlike the ROUNDUP and ROUNDDOWN functions, the ROUND function can round either to the left or to the right of the decimal point.
As a financial analyst, the ROUND function is useful as it helps round a number and eliminate the least significant digits, simplifying the notation but keeping close to the original value.
=ROUND(number,num_digits)
The ROUND function uses the following arguments:
Now if the num_digits argument is:
To understand the uses of the ROUND function, let’s consider a few examples:
Suppose we are given the following data:
Number | Digits | Remarks |
---|---|---|
5.142 | 0 | Round up to the nearest whole number |
5.142 | 1 | Round up to 1 decimal place |
5.142 | 2 | Round up to 2 decimal places |
2785.2 | 3 | Round up to 3 decimal places |
2785.2 | -1 | Round up to the nearest 10 |
2785.2 | -2 | Round up to the nearest 100 |
2785.2 | -3 | Round up to the nearest 1000 |
The results we get in Excel are shown below:
Let’s see how to round prices using the function to the nearest 0.99 value. Suppose we are given the following data:
The formula used is shown below:
The ROUND function would first round 63.39 to 63 and then subtract 0.01 to give 62.99. So, the function with a zero would round the number given to the nearest whole dollar. Once it is rounded, the formula would simply subtract 0.01 from the number to get a .99 value.
We get the result below:
Click here to download the sample Excel file
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