Explanation on formula

[Hiten Vakharia]

Hi,
I have come across below forumla, this is for rounding price

Could anyone explain what does this mean
=IF(A3="","",IF(A3<7,CEILING(A3,0.1)-0.01,IF(A3<20,CEILING(A3,0.5)-0.01,CEILING(A3,1)-0.01)))

Thanks
Hiten

 

[bbott]

That formula is taking your price in A3 and rounding it to end in .99 cents. If it's a whole number, it rounds down (50 becomes 49.99). If it's a decimal, it rounds up (50.15 becomes 50.99).

But if it's less than 7, it's rounding the price to the nearest tenth (5.3 becomes 5.29). If it's less than 20, it rounds to the nearest half dollar (15.3 becomes 15.49).

 

[NeonRedSharpie]

If A3 is blank, blank

If A3 < 7, return .01 less than the next largest dime interval.
eg. 6.45 rounds up to 6.50, then return .01 less, or 6.49.

If A3 between 7 and 20, return .01 less than the next largest half dollar interval
eg. 9.4 rounds up to 9.50, then returns .01 less, or 9.49.
9.8 rounds up to 10.00, then returns .01 less, or 9.49.

If A3 is larger or equal to 20, return .01 less than the next largest full dollar interval
eg. 35.1 rounds up to 36.00, then returns .01 less, or 35.99.

 

[Hiten Vakharia]

Thanks to both of you