Write the decimal number you wish to round on paper so you can examine it carefully.
Look at the number occupying the thousandths place to round to the hundredths place. For example, if you wish to round 42.73928, you will look at the 9. If you wish to round 152.8719, you will look at the 1. If you wish to round 3.165, you will look at the 5.
Round the number in the hundredths place up to the next higher number if the number in the thousandths place is 5 or greater. Using the same examples, round 42.73928 up to 42.74 because 9 is greater than 5. Round 3.165 up to 3.17 because 5 is equal to 5 (the cutoff for rounding up).
Round the number in the hundredths place down by leaving it unchanged if the number in the thousandths place is less than 5. Using the same example, round 152.8719 down (leave the hundredths place number unchanged) to 152.87 because 1 is less than 5. When you round a decimal down, you simply remove the numbers to the right of the decimal place to which you are rounding.