When you round up a number, you remove the non-important values. In Excel, you can round your figures to the nearest tens, hundreds, or thousands when you do not need an exact figure. This is one of the useful skills any Excel user should know. Luckily, Microsoft Excel offers many functions that help handle the different types of rounding off.
In the guide below, we discuss the different ways you can round in Excel to the nearest thousand. Let’s get started.
Rounding to the nearest thousand by formatting cells
1. In an open Excel workbook, highlight the cells containing the values you wish to eliminate.
2. Right-click the cells and select Format Cells in menu. You can also use the keyboard shortcut Ctrl + 1. The action will display Format Cells
3. In the displayed window, click on the Number
4. Under the Category Section, click on either currency or number, depending on which figures you are dealing with.
5. Next to Decimal Places, enter the number of decimals you wish to be included in your figures. In our case, you will type in 3.
6. You will get a preview under the Sample section
7. Hit OK
Using the ROUND function to round to the nearest thousand in Excel
The ROUND Formula is one of Excel’s main formulas for rounding off.
=ROUND (number, num-digits)
For example, if you want to round 2, 245, 678 to the closest thousand, here is what your formula will look like:
=ROUND (2,245,478, -3)
You will get the resulting figure as 2,345,000.
Note:
The ROUND formula follows mathematical rules.
Using the ROUNDUP Function
Here, you will use the formula =ROUNDUP (number, num_digit)
Whereby the num_digit will be -3
Using the ROUNDDOWN Function
Here, you will use the formula =ROUNDDOWN (number, num_digit)
Whereby the num_digit will be -3
Using the FLOOR Function to round to the nearest thousand
The FLOOR Function rounds down a number. We use the formula =FLOOR (number, significance), whereby the significance will be thousands.
For instance, suppose we have our number in cell C2 that we want to round to the nearest thousand. Our formula will be:
=FLOOR (D4, 1000)
So, if we have 7966 as our number, the FLOOR function returns 7000 as a result.
Using the CEILING Function to round to the nearest thousand
The CEILING Function rounds up a number. We use the formula =CEILING (number, significance) whereby the significance will be thousands.
For instance, using the example above, suppose we have our number in cell D4 that we want to round to the nearest thousand, our formula will be:
=CEILING (D3, 1000)
So, if we have 8457 as our number, the CEILING function returns 9000 as the result.
