From: Mark Probert <probertm@...>
Date: 2002-12-29T01:51:48+09:00
Subject: Re: 1210 / 100 = 12? what?

At 01:45 PM 12/28/2002 +0900, transami wrote:
> >   irb: 1210 / 100    # 12
> >   irb: 1210 % 100    # 10   (scaled: 10 / 100)
> >
> > So, if I was working in dollars and cents (scaled to cents), then the
> > modulus returns me the working number of cents.
>
>interesting approach. is this a standard approach in finacial applications? i
>may use this.

Some do, where there is a need for speed and accuracy and there is no
in-built language support for a Currency type.

The usual practice would be to use 1000 rather than 100 as a scaler.
This gives accuracy to $0.0001, which takes into account things like
fractional interest rates used in bonds, futures and so on.

Regards,

-mark.