How do I change all greater than .00 cents to .49 cents be .00 and all greater than .50 to be round off?

I'm using SqlYog btw.

Example:
price 1: 16:03
price 2: 16:53

Output:
price 1: 16:00
price 2: 17:00

I tried using round its not changing '0 affected rows'

update product set price1 = round(price1,2);
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