Divide $0.694 \div 0.032$. Round the quotient to the nearest hundredth.
To divide \(0.694\) by \(0.032\), we first simplify the expression by removing the decimal points. We do this by multiplying both the dividend and the divisor by \(1000\):
\[\frac{0.694}{0.032} = \frac{0.694 \times 1000}{0.032 \times 1000} = \frac{694}{32}.\]
Next, we perform the division \(694 \div 32\). Calculating this division gives us the quotient \(21.6875\).
To round \(21.6875\) to the nearest hundredth, we examine the third decimal place (the thousandths digit). The number is \(21.6875\).
The hundredths digit is \(8\), and the thousandths digit is \(7\).
Since the thousandths digit is \(7\), which is greater than or equal to \(5\), we round up the hundredths digit by \(1\).
Rounding \(21.6875\) to the nearest hundredth results in \(21.69\).
Rounding decimal results is a common practice in real-life financial transactions or scientific measurements. For example, if you are purchasing materials priced at \(\$0.694\) per unit and need to pay for \(0.032\) units (perhaps due to a fractional rate), the total cost calculation might result in a long decimal. Rounding this to the nearest hundredth ensures the final price is presented in a standard monetary format, such as \(\$21.69\), facilitating easier transactions.