The ‘FLOOR’ function in Excel rounds a number down to the nearest multiple of significance. For example, if the significance input was 25; multiples would include 25, 50, 75, 100, 125, etc. In this instance, if our input number was 52, the FLOOR formula output would be 50.
Note: the MROUND function is very similar; except it also rounds up to the nearest multiple of significance (rather than purely rounding down).
One example of a situation where this formula might prove useful would be when converting prices into different currencies. By using FLOOR to round down, you can avoid generating prices with strange decimal prices (e.g. $21.42 would be rounded down to $21.00 if using a significance of 1).
- number – input number that you wish to round down
- significance – the number which will be multiplied in order to find the closest multiple to the input number.
The FLOOR function will round down a number to the nearest multiple of the significance input.