1/100th
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One thousandth of a cent. [One percent of a dollar is one cent.]
If the number .2436 is a fraction of a cent, it is approximately zero. If it is a fraction of a dollar, it is approximately twenty four cents.
A cent is one hundredth of a dollar (in fact, the word "cent" is from a Latin word meaning "hundred"). So no, one tenth of a penny is not one hundredth of a dollar. (It is actually one thousandth of a dollar.)
In most cases, a cent.1 cent
kumba has one dollar. He spent 1/2 of the dollar on a pencil and 2/10 of the dollar on an eraser. What fraction of the dollar did he spent?