T-SQL datetime rounded to nearest minute and nearest hours with using functions

Question

declare @dt datetime

set @dt = '09-22-2007 15:07:38.850'

select dateadd(mi, datediff(mi, 0, @dt), 0)
select dateadd(hour, datediff(hour, 0, @dt), 0)

will return

2007-09-22 15:07:00.000
2007-09-22 15:00:00.000

The above just truncates the seconds and minutes, producing the results asked for in the question. As @OMG Ponies pointed out, if you want to round up/down, then you can add half a minute or half an hour respectively, then truncate:

select dateadd(mi, datediff(mi, 0, dateadd(s, 30, @dt)), 0)
select dateadd(hour, datediff(hour, 0, dateadd(mi, 30, @dt)), 0)

and you'll get:

2007-09-22 15:08:00.000
2007-09-22 15:00:00.000

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Before the date data type was added in SQL Server 2008, I would use the above method to truncate the time portion from a datetime to get only the date. The idea is to determine the number of days between the datetime in question and a fixed point in time (0, which implicitly casts to 1900-01-01 00:00:00.000):

declare @days int
set @days = datediff(day, 0, @dt)

and then add that number of days to the fixed point in time, which gives you the original date with the time set to 00:00:00.000:

select dateadd(day, @days, 0)

or more succinctly:

select dateadd(day, datediff(day, 0, @dt), 0)

Using a different datepart (e.g. hour, mi) will work accordingly.

"Rounded" down as in your example. This will return a varchar value of the date.

DECLARE @date As DateTime2
SET @date = '2007-09-22 15:07:38.850'

SELECT CONVERT(VARCHAR(16), @date, 120) --2007-09-22 15:07
SELECT CONVERT(VARCHAR(13), @date, 120) --2007-09-22 15

I realize this question is ancient and there is an accepted and an alternate answer. I also realize that my answer will only answer half of the question, but for anyone wanting to round to the nearest minute and still have a datetime compatible value using only a single function:

CAST(YourValueHere as smalldatetime);

For hours or seconds, use Jeff Ogata's answer (the accepted answer) above.