Question

What is $\frac{7}{8}$ as a decimal rounded to the nearest hundredth ?

Answer 1

Hundredth is the reciprocal of $100;\frac{1}{100};0.01$
In other words, you can interpret hundredth as nearest $2$ decimal place.
$\frac{7}{8}=0.875=0.88$ (2.d.p)