What is \[307,495\] rounded to the nearest thousand?

Hint: We are given a number which we have to round off to nearest thousand, which means the rounded off figure will be a multiple of 1000. We will first find the upper and lower thousand around the number given to us. Then, we will find whether we have to round up or down based on whether the hundreds place digit is greater than 5 or less than 5. We can figure out that \[307,495\] lies between \[307,000\] and \[308,000\]. We can see that in the hundreds place the digit is less than 5, so we get the round down the given number. Hence, we will have the required number.

Complete step-by-step solution:
According to the given question, we are given a number which we have to round off to the nearest thousand. When we say that we are rounding off the number to a nearest thousand we implicitly say that the number we are looking for is a multiple of 1000.
The number we have is, \[307,495\].
First we will figure out the upper and the lower thousand around the given number. We can see that the upper thousand figure is \[308,000\] and the lower thousand figure is \[307,000\]. That is, the given number lies between \[307,000\] and \[308,000\].
Next, we have to find whether we have to round up or down. For that we will look up the hundreds place digit. We can see that the hundreds place digit in \[307,495\] is 4. Since, 4 is less than 5, therefore we will round down the given number.
Therefore, the nearest thousand of \[307,495\] when rounded off gives \[307,000\].

Note: The decision to whether to round up or down is very crucial while rounding off. Also, the key rule to make this decision should be clearly understood.
For example –
\[307,495\]: Here, since 4 is less than 5, we get \[307,000\].
\[307,695\]: Now, since 6 is greater than 5, we get \[308,000\]