Please Note: This article is written for users of the following Microsoft Excel versions: 97, 2000, 2002, and 2003. If you are using a later version (Excel 2007 or later), this tip may not work for you. For a version of this tip written specifically for later versions of Excel, click here: Rounding to the Nearest $50.

Rounding to the Nearest $50

by Allen Wyatt
(last updated April 20, 2013)

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 is a part of the Analysis ToolPak included with Excel. If you don't want to install the toolpak or if you will be working with negative values, then you can't use MROUND. (The function returns errors if you use negative numbers.) 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 (2149) applies to Microsoft Excel 97, 2000, 2002, and 2003. You can find a version of this tip for the ribbon interface of Excel (Excel 2007 and later) 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. ...

MORE FROM ALLEN

Frequent Workbook Recovery Prompts

When you open a workbook, Excel examines that workbook to make sure it can understand the data it contains. This can lead to ...

Discover More

Signing a Protected Form

Tablet PCs are great for some uses, such as signing forms developed in Word. You may run into a problem with getting the ...

Discover More

Printing a Short Selection

Need to print just a portion of a worksheet? It's easy to do if you follow the steps in this tip.

Discover More

Excel Smarts for Beginners! Featuring the friendly and trusted For Dummies style, this popular guide shows beginners how to get up and running with Excel while also helping more experienced users get comfortable with the newest features. Check out Excel 2013 For Dummies today!

MORE EXCELTIPS (MENU)

Deriving Antilogs

Creating math formulas is a particular strong point of Excel. Not all the functions that you may need are built directly into ...

Discover More

Rounding Numbers

The primary method of rounding values is to use the ROUND function in your formulas. Here's an introduction to this useful ...

Discover More

Using the XIRR Function

One of the financial worksheet functions provided in Excel is the XIRR function. This is used to figure out an internal rate ...

Discover More
Subscribe

FREE SERVICE: Get tips like this every week in ExcelTips, a free productivity newsletter. Enter your address and click "Subscribe."

View most recent newsletter.

Comments for this tip:

If you would like to add an image to your comment (not an avatar, but an image to help in making the point of your comment), include the characters [{fig}] in your comment text. You’ll be prompted to upload your image when you submit the comment. Images larger than 600px wide or 1000px tall will be reduced. Up to three images may be included in a comment. All images are subject to review. Commenting privileges may be curtailed if inappropriate images are posted.

What is seven minus 6?

There are currently no comments for this tip. (Be the first to leave your comment—just use the simple form above!)


Newest Tips
Subscribe

FREE SERVICE: Get tips like this every week in ExcelTips, a free productivity newsletter. Enter your address and click "Subscribe."

(Your e-mail address is not shared with anyone, ever.)

View the most recent newsletter.

Links and Sharing
Share