Please Note: This article is written for users of the following Microsoft Excel versions: 2007, 2010, 2013, 2016, 2019, Excel in Microsoft 365, and 2021. If you are using an earlier version (Excel 2003 or earlier), this tip may not work for you. For a version of this tip written specifically for earlier versions of Excel, click here: Rounding to the Nearest $50.

Rounding to the Nearest $50

Written by Allen Wyatt (last updated December 3, 2022)
This tip applies to Excel 2007, 2010, 2013, 2016, 2019, Excel in Microsoft 365, and 2021


1

It is often necessary when creating financial reports to round figures to some value other than the nearest dollar. One common rounding point is to the nearest fifty dollars. If you need to round figures in this manner, then there are a number of formulas you can use to do the rounding.

The first approach is to use the MROUND function. This function allows you to round to any value you want, and has been covered in other ExcelTips. Basically, you would use the function as follows if the value you want to round is in cell B7:

=MROUND(B7,50)

The MROUND function only works with positive values, so if there is a chance you'll be using negative values, then you can't use MROUND. In these instances, you can resort to the regular ROUND function. Either of the following variations will produce the exact same results, assuming you want to round the value in cell F5:

=ROUND(F5/50,0)*50
=ROUND(F5*2,-2)/2

Remember that the second parameter in the ROUND function is used to specify how many decimal places you want in the result of the ROUND function. Most people would use the first example, which means "I don't want anything after the decimal point." The second example, however, effectively rounds to the nearest 100 because it rounds to 2 places to the left of the decimal point.

ExcelTips is your source for cost-effective Microsoft Excel training. This tip (12439) applies to Microsoft Excel 2007, 2010, 2013, 2016, 2019, Excel in Microsoft 365, and 2021. You can find a version of this tip for the older menu interface of Excel here: Rounding to the Nearest $50.

Author Bio

Allen Wyatt

With more than 50 non-fiction books and numerous magazine articles to his credit, Allen Wyatt is an internationally recognized author. He is president of Sharon Parq Associates, a computer and publishing services company. ...

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What is 3 + 4?

2022-12-03 10:10:03

J. Woolley

Re. MROUND, this formula will accommodate positive or negative values:
=MROUND(B7,50*SIGN(B7))


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