MROUND Function

Returns a number rounded to a specified multiple

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What is the MROUND Function?

The MROUND Function[1] is categorized under Excel Math and Trigonometry functions. The function will return a number rounded to a multiple given by the user. MROUND will always round up away from zero.

As a financial analyst, the MROUND function helps round a number and eliminate the least significant digits, making it simpler but keeping close to the original value.

Formula

=MROUND(number, multiple)

The MROUND function uses the following arguments:

1. Number (required argument) – This is the number that needs to be rounded.
2. Multiple (required argument) – This is the multiple to which we want to round a number.

How to use the MROUND Function in Excel?

To understand the uses of the MROUND function, let’s consider a few examples:

Example 1

Suppose we are given the following data:

The results in MS Excel are shown below:

Example 2

Let’s see how the MROUND function can be used to get a time rounded up to the nearest 30-minute interval. Suppose we are given the data below:

The formula used is shown below:

We get the result below:

When we supply “0:30” as the multiple, Excel will internally convert 0:30 into 0.0208333333333333, which is the decimal value that represents 30 minutes.

We can also express 30 minutes in a formula using the formula =30/(60*24).

Alternatively, depending on the requirements, we can use the formula to round to different time intervals such as the nearest 15 minutes or 1 hour.

Few notes about the MROUND Function

1. MROUND rounds up away from zero.
2. The number and multiple arguments must be of the same sign.
3. #NUM! error – Occurs when the number and multiple arguments are not of the same sign.