Answer: 54.99
When rounding 54.987 to the nearest hundredth, we need to look to the thousandths place. If the number in the thousandths place is 5 or greater we round up. If the number in the thousandths place is 4 or less, we round down.
54.987
7 is greater than 5, so we round up. So 54.987 becomes:
54.99