What is 24.051 rounded to the nearest hundredth? how did you solve it?

This is like late elementary/early middle school stuff where you learn this.
First off, what number is in the position of the hundereth place? 0? No. 1? No. 5 yes! Now how i learned how to round is you take  the number to the right of whatever you are being asked about and round it up or down. Now if the number (in this case it is 1) is lower than 5, you round down (or keep it the same) but if it is 5 or higher you round up. since 1 is lower then 5, that 5 in the hundereths place stays the same.