Please Note: This article is written for users of the following Microsoft Excel versions: 2007 and 2010. 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

by Allen Wyatt
(last updated April 4, 2017)

4

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:

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

ExcelTips is your source for cost-effective Microsoft Excel training. This tip (12439) applies to Microsoft Excel 2007 and 2010. 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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Comments

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What is 6 - 3?

2017-05-10 09:34:43

Russell

thanks Michael - very elegant. I will certainly think about using the SIGN function instead of logical tests for the sign in future.


2017-05-09 03:05:35

Michael (Micky) Avidan

@Russell,
This can be a lot shorter.
Try: =MROUND(B7,50*SIGN(B7))
--------------------------
Michael (Micky) Avidan
“Microsoft® Answers" - Wiki author & Forums Moderator
“Microsoft®” Excel MVP – Excel (2009-2017)
ISRAEL


2017-05-08 05:57:09

Russell

MRound does actually work with negative numbers, but the signs of the value to be rounded and the multiple to round to have to be the same. E,g. MROUND(-21,-2) will give the answer -22 and MROUND(21,2) will give the answer 22, but if the values are of opposite signs the formula gives the #NUM! error .

So alternatives would be to use either of:
=IF(B7>=0,MROUND(B7,50),MROUND(B7,-50))
=IFERROR(MROUND(B7,50),MROUND(B7,-50))

Longer than Allen’s formulae above, and similar to Tom's formula below, but I would find it easier to understand what the formula is doing.
I don’t know why Microsoft couldn’t have handled this within the MROUND function to save the need for such workarounds.


2016-01-13 09:54:58

Tom

Negative numbers can also be handled as:

=IF(B7<0,-MROUND(-B7,50),MROUND(B7,50))


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