Lula wants to round 76.24491 to the nearest hundredth. She first rounds 76.24491

to 76.245 and then rounds 76.245 to 76.25 and claims that this is the final answer.
What is wrong with this approach?

The answer is 76.24 because the digit immediately after .24 is less than 5. In other words, 491 is less than 500 -- making the closest hundredth 0.24.