Decimal Places refer to numbers of digits on the RHS of the decimal point.
One Decimal place is equals to One digit on the RHS of the decimal point.
E.g. Let's check number of decimal places in the following decimals:
a) 9.1
Have only one digit to the right of the decimal point i.e. digit 1.
So, 9.1 have one decimal place only.
b) 4.23
Have two digits on the RHS of the decimal point i.e. digits 2 and 3
So, Decimal 4.23 have two decimals places.
b) 14.8901
Have four digits on the RHS of the decimal point i.e. digits 8, 9, 0 and 1
So, Decimal 14.8901 have four decimals places.
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