We can use Excel FLOOR function to round numbers down to the nearest specified multiple. To learn how to use this function, read this post as it provides a step-by-step guide on how to round down numbers using the FLOOR function.
Figure 1: Use of Excel FLOOR function
Syntax of the formula
- Number- refers to the number to be rounded
- Multiple- multiple to be used when rounding
Explanation of the formula
When we want to round a number down to a given multiple, we use the Excel FLOOR function. It is important to note that in excel, we can round numbers either up or down. When rounded up, the numbers will get bigger after rounding. But when rounded down, the numbers will get smaller after rounding. Excel FLOOR function is best described as rounding a number either away or towards zero.
Figure 2: Rounding down numbers with Excel FLOOR function
The FLOOR function works in the same way the MROUND function does, with the only difference being that it always round numbers down to the desired number. For positive numbers, they will be rounded towards zero, while negative numbers will be rounded away from zero. This function is most useful in setting up rates, discounts and more.
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