If its a rational number then its decimal equivalent can be expressed as a fraction
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No, actually 2/5 is equal to .4 which is perfectly rational. Irrational numbers have an infinitely long decimal expansion. This is just one digit. Any rational number divided by any other rational number gives another rational number. Having an infinitely long decimal expansion is a necessary but not sufficient criterion for irrationality... for example, 1/3 is rational, though its decimal expansion is the infinitely long 0.33333333...
It depends. A terminating decimal is a rational number. A decimal which, after a finite number of places, becomes a repeating (or recurrent) decimal is also a rational number. A decimal that is not terminating, nor [eventually] settles into a recurring pattern is not a rational number. Note that the decimal need not become recurring immediately.
Yes, it is. Any terminating or a non-terminating recurring decimal is a rational number. In this case, the decimal is terminated. And so, this number is a rational number.
Any number or decimal number that can be expressed as fraction is rational.
Yes. Any terminating decimal is rational.