Money matters....

Old Apr 23rd 2006, 2:53 am
  #1  
Susie..
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Default Money matters....

This has been bothering me since we arrived, I'd like someone to tell me why?

If you go into a shop/petrol station/coffee shop etc etc the price on the ticket will say $9.99 or $0.97 all odd numbers.....there are no coins under 5c so why do they do it....isn't it illegal to put on a ticket a price under marked and then go and 'overcharge you' at the tills....?

Why do they round everything up?

Why dont they just charge you $1.00 or $10.00 ?

Ok rant over... thanks
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Old Apr 23rd 2006, 5:00 am
  #2  
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Default Re: Money matters....

Originally Posted by Andrew Cross
This has been bothering me since we arrived, I'd like someone to tell me why?

If you go into a shop/petrol station/coffee shop etc etc the price on the ticket will say $9.99 or $0.97 all odd numbers.....there are no coins under 5c so why do they do it....isn't it illegal to put on a ticket a price under marked and then go and 'overcharge you' at the tills....?

Why do they round everything up?

Why dont they just charge you $1.00 or $10.00 ?

Ok rant over... thanks
A few points may help you get through the rant:

- most shopkeepers use Swedish rounding; ie. cash amounts due will be rounded to the nearest 5c (up or down as necessary). So totals ending in 3,4,5,6 and 7 will be rounded to 5, and totals ending in 8,9,0,1 and 2 will be rounded to 0.

- the rounding is only done on the total purchase price; so if you bought 3 items at $9.99 the amount due would be $29.95 ($29.97 rounded down)

- if you pay by card there is no rounding

- the 5c coin will be taken out of circulation in the next few months, so rounding will be to the nearest 10c.


Hope this helps...
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Old Apr 23rd 2006, 11:44 am
  #3  
Susie..
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Default Re: Money matters....

Ok, thanks. Seems daft to me though.... why dont they just round it up on the sale ticket beforehand to the nearest 5c ???

Cheers for the info though!
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