Mrs. Chu's famous peanut butter cookies call for 1 cup of peanut butter for every 1/2 of a cup of oil. Today, she wants to make
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The hundredths place is the second place after the decimal point. In this case, it is .
We can round it by looking at the next place to the right, which is a .
is less than
, so we can just cut off everything after the hundredths place. This leaves an answer of
.