It depends on how many significant digits you need to round to. If a digit is LESS THAN 5 you round down, if a digit is GREATER THAN OR EQUAL TO 5 you round up.
Hope it helps!
1/8 /3 = 1/24 = 0.0416666666666667 this last digit is rounded up to 7
.04166 would be .0417 rounded
.0416 would be .042
.041 would be .04