Floating point type is either a float or double. They are used any time you need to represent a real number, as defined by IEEE 754.
Decimal types should be used when representing financial or money values.
|Type||Size (in bits)||precision||Range|
|float||32||7 digits||1.5 x 10-45 to 3.4 x 1038|
|double||64||15-16 digits||5.0 x 10-324 to 1.7 x 10308|
|decimal||128||28-29 decimal places||1.0 x 10-28 to 7.9 x 1028|
Floating point types are used when you need to perform operations requiring fractional representations. However, for financial calculations, the decimal type is the best choice because you can avoid rounding errors.