Originally posted by: SophalotJack
Originally posted by: desteffy
Originally posted by: Random Variable
So if your change is 4 cents, do you get back 5 cents or nothing?
Do whatever we do now for .8 cents
I am thinking you give back 2 cents.
Since you left out your superior reasoning... I am just gonna go on what's correct and not completely stupid.
BTW, the # 99 is a key marketing tool... gl convincing thousands of companies to back you.
Read it again. .8 cents. 8/10 of a cent. You know when you buy gas and the price is x.xx9? There's rounding involved there.
Here's how it would work - for cash transactions, 1 or 2 pennies would round down. 3 or 4 pennies would round up. Rounding would occur at the end of the transaction. Suppose a retailer tries to "screw" you by pricing someting at $.98 - ZOMG IT WILL ALWAYS ROUNDUP! But if you buy 2 $.98 items it's $1.96 - ZOMG IT WILL ROUND DOWN! Retailers will keep their $x.99 pricing, and the world will not end. On average, in half of all transaction you will come out ahead, and in half of all transactions the retailer will come out ahead. A net difference of ZERO.
Credit/check transactions could still have $.01 precision. Doesn't matter since you don't need pennies.
The world would not end if we did away with the penny. Nothing bad would happen if we did away with the penny. The only thing keeping the penny alive is that people are stooopid.