what is standard and bankers rounding
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Bankers Rounding. Bankers Roundingis an algorithm for rounding quantities to integers, in which numbers which are equidistant from the two nearest integers are rounded to the nearest even integer. Thus, 0.5 rounds down to 0; 1.5 rounds up to 2. ... So called because banks supposedly use it for certain computations.
anindya9:
in marking system bankers rounding is used?
please tell me
MINDBODY uses something called Banker's Rounding. It's a commonly used method for rounding taxes. Rather than rounding 0.5 and higher up, and 0.4 and lower down, bankers rounding rounds 0.5 to the nearest even number. ... A $1.00 X 6.5% tax= 0.065.
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