Decimals are essential in many real-world applications:
Money: Decimals are very important in giving a correct representation to monetary values, particularly when the money involved deals with cents or other sub-unit currencies. This is one area that accuracy is indispensable in relation to transactions of finance, accounting, and economic analysis.
Measurements: In subjects like Science or Engineering, decimals may come in very useful in ensuring the degree of accuracy for quantities such as length, weight, volume, or temperature. Decimal accuracy is also important in various everyday activities, such as cooking.
Percentages: Percentages, which are used very often in statistics and finance, and also in everyday calculations, are nothing but decimals expressed as a fraction of 100. Knowledge of decimals proves very useful in the case of percentages, and it is most important when calculating percentage discounts, interest rates, or percentage statistics.
Statistics and Probability: Decimals are used to make possible the expression of high-precision probabilities, percentages, and other measurements of data in the field of statistics and probability. This makes it very easy for making statistical analysis-based decisions.
Maps and Scales: Decimals on a map represent a much more precise and accurate representation of measures for distance on the earth's surface. A scale on a map can usually use decimals to illustrate a measurement, which enables an individual to navigate and plan with an appropriate degree of accuracy.