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Started by Figleaf, January 11, 2009, 03:19:20 AM
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Quote from: Figleaf on January 11, 2009, 08:45:21 PMIt would amount to a severe loss. Suppose you go to two shops every working day on average, that's 20 payments a week, times 52 weeks is 1040 payments a year. Suppose you add up your purchases yourself before going to the checkout counter, so you get it right every time. Your average savings will be 2,5 cents per payment. That's a total savings of 0.025 x 1040 = 26 dollars a year. Now suppose you need 90 seconds on average to add up your bill yourself and your hourly wage is 100 dollars. That's 1040 x 1,5 = 1560 minutes or 26 hours @ 100 dollars or a loss of 2600 dollars against a savings of a mere 26 dollars. There's no way you can be profitable, unless you can add up your bill in mere seconds. Play with my assumptions and see what I mean.
Quote from: Figleaf on January 11, 2009, 09:06:38 PMInteresting. That's not how it works here. The amount to be paid will be rounded automatically and it's considered impolite to ask what the exact amount is. You won't even know until it's deducted from your account if you pay by card.
Quote from: translateltd on January 11, 2009, 08:08:44 PMAt least there are still 1p and 2p coins in England to make this possible on all transactions. Here in NZ the smallest circulating coin is 10c (about 4p), and individual items have to be rounded up or down accordingly. On a bulk purchase it doesn't matter, as everything is charged at its nominal value (49c, $2.98, whatever), and it's only the final total that is rounded.
Quote from: translateltd on January 31, 2009, 01:46:10 AMThe system is known as "Swedish rounding" here, so I assume the Swedes at least must be familiar with it.
Quote from: The Swan-Collarer with Two Necks on January 30, 2009, 11:27:43 PMHow many countries use such a lunatic system, working in prices for which there may be a lack of suitably denominated coins?