It means seven tenths plus five hundredths.
It means that the number is less than 1 but greater than zero and that it can be written as a proper fraction as 3/4. As a percentage it equates to 75%.
The Western numbering system is called the decimal system and is based on multiples of powers of 10. This number means (0 * 100) + (7 * 10-1) + (5 * 10-2) = 0 + 0.7 + 0.05 = 0.75.
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