While working in Excel, if you want your values that show the prices of a particular good or services to be rounded off to .99 value, ROUND function is there to help you in this regard. Excel provides a very useful function of ROUND that can help you to do this task for you. All you have to do is to write ROUND then subtract .01. why we subtract .01 from ROUND function, the reason behind this rule is that if we subtract .01 from .100 so it becomes .99 and that is what is required.
Following is an example of how this formula works.
With the value in A2 of 63.39, the formula is solved like this:
Here in the formula, we have directed to the cell A2 that has a value of $54.20 already assigned to it. After applying this formula and entering the required cell number, we will get an output i.e. $53.99 that is the rounded off version of actual value i.e. $54.20. This formula first replaces B2 by the rounded off value of the cell directed i.e. $54.00 and then it is subtracted by 0.01 to achieve the final output of $53.99. Here is the mathematical form of how this formula works.
This function provided by Excel helps in various ways where the price needs to be rounded off to any point. This formula helps to round off any number to any rounded off value of your desire. Round a price to end in .99 is mostly useful in sale prices where all prices are rounded off to 0.99 which is a marketing strategy to attract customers. Without this function, each value would be required to be rounded off manually that takes so much time.
Figure1. Example of Round a price to end in .99