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Rounding cash to the nearest five cents

When dealing with cash, retailers round to the nearest five cents, because there are no one-cent and two-cent coins.

Example 4

  1. What price would the retailer charge for the following individual items?
  2. If all three items were bought at the one time, what would the customer be charged?
Dog food 5 kg  $10.98
Steak 1.5 kg $22.42
Coffee beans 1 kg  $20.24

Solution

  1. \begin{align}\$10.98\ \text{rounded to the nearest five cents}=\$11.00\\\\ $22.42\ \text{rounded to the nearest five cents}=\$22.40\\\\ \$20.24\ \text{rounded to the nearest five cents}=\$20.25\end{align}
  2. \begin{align}\text{Total}&=10.98 + 22.42 + 20.24\\\\ &=\$53.64\end{align}
    \(\$53.64\ \text{rounded to the nearest five cents}=\$53.65\)