Multiplication Rounding

Thanks for the reply Kaz. My concern was that the fractional part would cause the product to be huge. For example, if you have 111.010=7.25, it can be interpreted as 111010=58. Performing a rounding on a rather small number like 7.25 with a fraction might be the same as performing the rounding on a large number. Basically, I'm afraid that such a rounding algorithm would cause small numbers to become rounded as large numbers.

Another concern is whether I should even shift at all after multiplication. Anytime you multiply a number you get 2*N decimal places, where N is the number of decimal places in the inputs. Since I only want N precision, I would the product by the right by N bits to discard them. With the method you gave, do I even need to do this at all? Would it be better just to round only?

I know this question may seem kind of stupid, but I'm still learing about fixed point for the first time.