The hundredths place value is the second digit to the right of the decimal point. So it is the first '3' that shows up. The digit just to the right of this '3' is a '5'. This tells us to round up. We round up if the digit is 5 or higher.
We go from 0.53 to 0.54 after rounding up. Everything after the '3' mentioned above is erased.
Answer: 0.54
