Rounding to the nearest hundredth means finding an approximate value of a given decimal up to two decimal places. To round a number to the nearest hundredth, we look at the digit in the thousandths place. If the digit in the thousandths place is less than 5, we round down the hundredths place digit. If the digit in the thousandths place is greater than or equal to 5, we round up the hundredths place digit. For example, if we want to round 3.14159 to the nearest hundredth, we look at the digit in the thousandths place, which is 5. Since 5 is greater than or equal to 5, we round up the hundredths place digit, which is 4. Therefore, 3.14159 rounded to the nearest hundredth is 3.14.