In order to round to the nearest hundredth, you need to look at the thousandths place. If the number in the thousandths place is 5 or more, the hundredths place rounds up to the next higher number. If it is 4 or less it rounds down so the number stays the same. In both cases, the rest of the numbers become zero. For example
2.376
look at thousandths place (6). It is greater than 5 so the hundredths place rounds up and the number becomes 2.380 or just 2.38.
If it was 2.374, it would round down to 2.37.
In the problem you gave us, 1.48 rounded to the nearest hundredth, there is no number in the thousandths place, so the value is zero or it could be written 1.480 which does not need to be rounded because it is already to the nearest hundredth. So your answer is
1.48