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  1. #1
    Senior Member
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    Default NZ Cash Rounding

    Due to seeing things on TV about NZ Post ripping people off with 45 cent stamps charging 50 cents, I guess the problem is due to the stamps already being priced at 45 cents only, but if they are to round down, then it's far cheaper to buy 10 45 cent stamps than a book of stamps so what do you do?

    Anyways, apart from just ignoring the issue. What if we use prices that are to 3 decimal places (a lot of suppliers do this), e.g. $10.449. How would we round this?

    Would we

    a) round the 100th then the 10th to get a cash value:

    $10.449 => $10.45 => $10.50

    or b) round only the 10th:

    $10.449 => $10.40

    So which is correct?

    Cheers,

    KK

  2. #2
    Senior Member
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    Default Re: NZ Cash Rounding

    Who would be pricing to 3 decimal places AND selling 1 unit. The Retailer's Assoc recommends rounding 12345 down and 6789 up.

  3. #3

    Default Re: NZ Cash Rounding

    Stores which give prices unpayable by cash should provide a rounding policy. By mathematical conventions 10.449 rounded to the nearest 0.10 is 10.40 (It's closer to 10.40 than 10.50).
    Why use a simple solution when a complicated one will suffice?

  4. #4
    Short Member pcuser42's Avatar
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    Default Re: NZ Cash Rounding

    Use a cheque or credit/debit card, then everything is the correct price.
    "He who resorts to personal insults hath lost the argument."

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  5. #5
    Awaiting Enlightenment R2x1's Avatar
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    Default Re: NZ Cash Rounding

    Rounding of currency is vital, since square coins would make holes in your pockets.
    Entropy is not what
    it used to be.



  6. #6
    IT Consultant johcar's Avatar
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    Default Re: NZ Cash Rounding

    Quote Originally Posted by R2x1 View Post
    Rounding of currency is vital, since square coins would make holes in your pockets.
    But you *COULD* have fun stacking it on edge.

    It is impossible to defeat an ignorant man in argument. -William G. McAdoo, lawyer and politician (1863-1941)

  7. #7
    Awaiting Enlightenment R2x1's Avatar
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    Default Re: NZ Cash Rounding

    Quote Originally Posted by johcar View Post
    But you *COULD* have fun stacking it on edge.
    Yep, sure could. But can you imagine the furore at a cricket match when the toss came out as "edge", and neither team batted first. The commentators would have to go into overdrive. On the bright side, the umpires could whip off for that long overdue trip to the optician.
    Entropy is not what
    it used to be.



  8. #8
    Frank and Earnest. Cicero's Avatar
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    Default Re: NZ Cash Rounding

    All I know is,we must obey our masters,or mistress;s in the case of Bradford.

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