FUNDAMENTALS OF COMPUTER

USING MICROSOFT EXCEL

WORKBOOK THEMES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
How many decimal places do you need when inputting a money amount that includes coins?
A
One decimal
B
Two decimal
C
Three decimal
D
No decimal
Explanation: 

Detailed explanation-1: -All money is a decimal value with two places. You will see examples including $1.25, $65.98, and $26.34. No matter how big the value gets, you can only have two decimal places.

Detailed explanation-2: -Most currencies have two decimals.

Detailed explanation-3: -Rounding a decimal number to two decimal places is the same as rounding it to the hundredths place, which is the second place to the right of the decimal point. For example, 2.83620364 can be round to two decimal places as 2.84, and 0.7035 can be round to two decimal places as 0.70.

Detailed explanation-4: -For example, for rounding currency to the nearest cent use 2 decimal places (hundredths). Look at the digit to the right of this place: If this number is less than 5 (0, 1, 2, 3, 4) you leave your last digit as it is. If it is 5 or more (5, 6, 7, 8, 9) you increase the value of your last digit by one.

Detailed explanation-5: -1. (Mathematics) the position of a digit after the decimal point, each successive position to the right having a denominator of an increased power of ten: in 0.025, 5 is in the third decimal place. 2. ( Mathematics) the number of digits to the right of the decimal point: 3.142 is a number given to three decimal places.

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