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Look at the value in the hundredths place of the number. If that value is 5, 6, 7, 8, or 9, then you increase the value of the tenths place by one and truncate (sever the remaining digits and discard them) the number at that spot (the tenths place). If the value in the hundredths place is 0,1,2,3, or 4, then you don't change the number's value in the tenths place, but you still truncate the number at the tenths place.

So, in your case:

12.334467 has the following positional values, from left to right:

The tens place is 1

The ones place is 2

The tenths place is 3

The hundredths place is 3

The thousandths place is 4

The ten thousandths place is 4

The hundred thousandth place is 6

The millionth place is 7

As explained above, the hundredths place is 3, therefore you don't change the value of the number's tenth place, which is also 3. Finally, you truncate the number at that spot, resulting in 12.3. This is the value of the number rounded to the tenths spot.

These are the values of the number if they were rounded to the other positions:

To the tens place: 10

To the ones place: 12

To the hundredths place: 12.33

To the thousandths place: 12.334

To the ten thousandths place: 12.3345

To the hundred thousandth place: 12.33447

To the millionth place: 12.334467

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Q: How do you round the number 12.334467 to the tenths place?
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