4 ms·
Penny rounding was supposed to balance out, with 0.01 and 0.02 rounding down to 0.00 and 0.03 and 0.04 rounding up to 0.05. In theory it balances out. I don't
by 51Cards 6y ago
Penny rounding was supposed to balance out, with 0.01 and 0.02 rounding down to 0.00 and 0.03 and 0.04 rounding up to 0.05. In theory it balances out. I don't think even adjusting your prices to get "in my favour" rounding would make that much of a difference as it's on the final total, not per item.
- grecy 6y agoWhen Australia dropped their $0.01 coin in 1992 they originally went with "nearest rounding" i.e. 0.01 and 0.02 go down, 0.03 and 0.04 go up. That only lasted a few years until they changed it to always "round up" - i.e. it always goes up to 0.05. For what it's worth, dropping the $0.01 coin is great, every time I'm in the US I try to avoid them like the plague.
- huonpine 6y agoThat's not true its still rounded down. https://www.accc.gov.au/media-release/rounding-and-eftpos-transactions https://www.accc.gov.au/media-release/rounding-and-eftpos-tr...