MROUND is the MATH & TRIGNOMETRY function in excel and is used to convert the number to the nearest multiple numbers of the given number. For example, =MROUND(50,7) will convert the number 50 to 49 because number 7 nearest multiple 49, in this case, it has rounded down to the nearest value. Similarly, if the formula is =MROUND(53,7) then this will convert the number 53 to 56 because multiple number 7 nearest number for number 53 is 56, in this, it has rounded up to nearest multiple values odd number 7.
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.
Syntax: =MROUND (number, multiple)
The MROUND function syntax has the following arguments:
- Number Required. The value to round.
Multiple Required. The multiple to which you want to round number.
Example: Let’s look at some Excel MROUND function examples and explore how to use the MROUND function as a worksheet function in Microsoft Excel:
Based on the Excel spreadsheet above, the following MROUND examples would return:
- If a number is already an exact multiple, no rounding occurs.
- Rounding occurs when the remainder from dividing number by multiple is greater than or equal to half the value of multiple
- Number and multiple must have the same sign.
- Common Errors
#NUM! – Occurs if the multiple argument has a different arithmetic sign (positive or negative) to the number argument.
#VALUE! – Occurs if any of the supplied arguments are non-numeric.
Let’s see how the MROUND function can be used to get a time rounded up to the nearest 45-minute interval. Suppose we are given the data below: