This is not a number used in counting, since 005 is the same as 5, with regard to keeping count. The initial zeroes would be used to make the number fit into some format that requires three digit numbers. It could be stated in words as zero zero five, although people often prefer to call the zeroes ohs, even though they aren't really, so it could be called oh oh five. James Bond, agent 007, was often called double oh seven.
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005 is thicker than 003
Forty-five billion, five million, five hundred thousand, fifty.
Well, honey, you write 500,005 as "five hundred thousand five." It's as simple as that! Just spell it out like you're talking to a kindergartener, and you'll be good to go.
005 = 5
005 = 5 so the reciprocal of 005 = reciprocal of 5 = 1/5 = 0.2