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The standard form of twelve thousandths is 1.2 × 10-2
The most correct standard form for 12.12 is "twelve point one two." The form "twelve and twelve one-hundredths" is also correct but is not the standard form. The common form "twelve point twelve" may be used from time to time (even by math teachers) but is not a correct form.
Twelve and sixteen hundredths (12.16) in standard form is 1.216 × 101