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There is no difference between rounding up and rounding off. The only thing is that when you round off you drop some numbers.Like in 74,329 the 10,000 would be 70,000.
The answer for what is 16 when rounding off when the one is underlined is 20.
No, it is not. Estimating may be rounding but need not be.
There is no universal "better". Rounding off is a trade-off between reducing the accuracy and simplifying calculations. Also, if there are other numbers in an addition that are rounded to the nearest hundred, there is no point in rounding your number to the nearest ten.
Under conventional rounding, it wouldn't be. If you were rounding to the nearest 50.27, it would be.