| Places | Ones | Tenths | Hundredths | Thousandths | Ten Thousandths | |
|---|---|---|---|---|---|---|
| 1 | ||||||
| Number | 0 | . | 0 | 0 | 5 | 5 |
| Rounded Number | 0 | . | 0 | 1 |
- 0 is in the hundredths place and 5 is in the thousandths place
- Since the digit in the thousandths place (5) is greater than or equal to 5, add 1 to the digit in the hundredths place (0)
- 1 + 0 = 1, so the digit in the hundredths place becomes 1
- The digits to the right of the hundredths place are dropped
- 0.0055 rounded to the nearest hundredth (two decimal places) = 0.01
