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What is the worst approximation error occurring using Java float to represent amounts of money? [duplicate]

Why do some numbers lose accuracy when stored as floating point numbers?
For example, the decimal number 9.2 can be expressed exactly as a ratio of two decimal integers (92/10), both of which can be expressed exactly in binary (0b1011100/0b1010). However, the same ratio stored as a floating point number is never exactly equal to 9.2:
32-bit "single precision" float: 9.19999980926513671875
64-bit "double precision" float: 9.199999999999999289457264239899814128875732421875
How can such an apparently simple number be "too big" to express in 64 bits of memory?

In most programming languages, floating point numbers are represented a lot like scientific notation: with an exponent and a mantissa (also called the significand). A very simple number, say 9.2, is actually this fraction:
5179139571476070 * 2 -49
Where the exponent is -49 and the mantissa is 5179139571476070. The reason it is impossible to represent some decimal numbers this way is that both the exponent and the mantissa must be integers. In other words, all floats must be an integer multiplied by an integer power of 2.
9.2 may be simply 92/10, but 10 cannot be expressed as 2n if n is limited to integer values.
Seeing the Data
First, a few functions to see the components that make a 32- and 64-bit float. Gloss over these if you only care about the output (example in Python):
def float_to_bin_parts(number, bits=64):
if bits == 32: # single precision
int_pack = 'I'
float_pack = 'f'
exponent_bits = 8
mantissa_bits = 23
exponent_bias = 127
elif bits == 64: # double precision. all python floats are this
int_pack = 'Q'
float_pack = 'd'
exponent_bits = 11
mantissa_bits = 52
exponent_bias = 1023
else:
raise ValueError, 'bits argument must be 32 or 64'
bin_iter = iter(bin(struct.unpack(int_pack, struct.pack(float_pack, number))[0])[2:].rjust(bits, '0'))
return [''.join(islice(bin_iter, x)) for x in (1, exponent_bits, mantissa_bits)]
There's a lot of complexity behind that function, and it'd be quite the tangent to explain, but if you're interested, the important resource for our purposes is the struct module.
Python's float is a 64-bit, double-precision number. In other languages such as C, C++, Java and C#, double-precision has a separate type double, which is often implemented as 64 bits.
When we call that function with our example, 9.2, here's what we get:
>>> float_to_bin_parts(9.2)
['0', '10000000010', '0010011001100110011001100110011001100110011001100110']
Interpreting the Data
You'll see I've split the return value into three components. These components are:
Sign
Exponent
Mantissa (also called Significand, or Fraction)
Sign
The sign is stored in the first component as a single bit. It's easy to explain: 0 means the float is a positive number; 1 means it's negative. Because 9.2 is positive, our sign value is 0.
Exponent
The exponent is stored in the middle component as 11 bits. In our case, 0b10000000010. In decimal, that represents the value 1026. A quirk of this component is that you must subtract a number equal to 2(# of bits) - 1 - 1 to get the true exponent; in our case, that means subtracting 0b1111111111 (decimal number 1023) to get the true exponent, 0b00000000011 (decimal number 3).
Mantissa
The mantissa is stored in the third component as 52 bits. However, there's a quirk to this component as well. To understand this quirk, consider a number in scientific notation, like this:
6.0221413x1023
The mantissa would be the 6.0221413. Recall that the mantissa in scientific notation always begins with a single non-zero digit. The same holds true for binary, except that binary only has two digits: 0 and 1. So the binary mantissa always starts with 1! When a float is stored, the 1 at the front of the binary mantissa is omitted to save space; we have to place it back at the front of our third element to get the true mantissa:
1.0010011001100110011001100110011001100110011001100110
This involves more than just a simple addition, because the bits stored in our third component actually represent the fractional part of the mantissa, to the right of the radix point.
When dealing with decimal numbers, we "move the decimal point" by multiplying or dividing by powers of 10. In binary, we can do the same thing by multiplying or dividing by powers of 2. Since our third element has 52 bits, we divide it by 252 to move it 52 places to the right:
0.0010011001100110011001100110011001100110011001100110
In decimal notation, that's the same as dividing 675539944105574 by 4503599627370496 to get 0.1499999999999999. (This is one example of a ratio that can be expressed exactly in binary, but only approximately in decimal; for more detail, see: 675539944105574 / 4503599627370496.)
Now that we've transformed the third component into a fractional number, adding 1 gives the true mantissa.
Recapping the Components
Sign (first component): 0 for positive, 1 for negative
Exponent (middle component): Subtract 2(# of bits) - 1 - 1 to get the true exponent
Mantissa (last component): Divide by 2(# of bits) and add 1 to get the true mantissa
Calculating the Number
Putting all three parts together, we're given this binary number:
1.0010011001100110011001100110011001100110011001100110 x 1011
Which we can then convert from binary to decimal:
1.1499999999999999 x 23 (inexact!)
And multiply to reveal the final representation of the number we started with (9.2) after being stored as a floating point value:
9.1999999999999993
Representing as a Fraction
9.2
Now that we've built the number, it's possible to reconstruct it into a simple fraction:
1.0010011001100110011001100110011001100110011001100110 x 1011
Shift mantissa to a whole number:
10010011001100110011001100110011001100110011001100110 x 1011-110100
Convert to decimal:
5179139571476070 x 23-52
Subtract the exponent:
5179139571476070 x 2-49
Turn negative exponent into division:
5179139571476070 / 249
Multiply exponent:
5179139571476070 / 562949953421312
Which equals:
9.1999999999999993
9.5
>>> float_to_bin_parts(9.5)
['0', '10000000010', '0011000000000000000000000000000000000000000000000000']
Already you can see the mantissa is only 4 digits followed by a whole lot of zeroes. But let's go through the paces.
Assemble the binary scientific notation:
1.0011 x 1011
Shift the decimal point:
10011 x 1011-100
Subtract the exponent:
10011 x 10-1
Binary to decimal:
19 x 2-1
Negative exponent to division:
19 / 21
Multiply exponent:
19 / 2
Equals:
9.5
Further reading
The Floating-Point Guide: What Every Programmer Should Know About Floating-Point Arithmetic, or, Why don’t my numbers add up? (floating-point-gui.de)
What Every Computer Scientist Should Know About Floating-Point Arithmetic (Goldberg 1991)
IEEE Double-precision floating-point format (Wikipedia)
Floating Point Arithmetic: Issues and Limitations (docs.python.org)
Floating Point Binary

This isn't a full answer (mhlester already covered a lot of good ground I won't duplicate), but I would like to stress how much the representation of a number depends on the base you are working in.
Consider the fraction 2/3
In good-ol' base 10, we typically write it out as something like
0.666...
0.666
0.667
When we look at those representations, we tend to associate each of them with the fraction 2/3, even though only the first representation is mathematically equal to the fraction. The second and third representations/approximations have an error on the order of 0.001, which is actually much worse than the error between 9.2 and 9.1999999999999993. In fact, the second representation isn't even rounded correctly! Nevertheless, we don't have a problem with 0.666 as an approximation of the number 2/3, so we shouldn't really have a problem with how 9.2 is approximated in most programs. (Yes, in some programs it matters.)
Number bases
So here's where number bases are crucial. If we were trying to represent 2/3 in base 3, then
(2/3)10 = 0.23
In other words, we have an exact, finite representation for the same number by switching bases! The take-away is that even though you can convert any number to any base, all rational numbers have exact finite representations in some bases but not in others.
To drive this point home, let's look at 1/2. It might surprise you that even though this perfectly simple number has an exact representation in base 10 and 2, it requires a repeating representation in base 3.
(1/2)10 = 0.510 = 0.12 = 0.1111...3
Why are floating point numbers inaccurate?
Because often-times, they are approximating rationals that cannot be represented finitely in base 2 (the digits repeat), and in general they are approximating real (possibly irrational) numbers which may not be representable in finitely many digits in any base.

While all of the other answers are good there is still one thing missing:
It is impossible to represent irrational numbers (e.g. π, sqrt(2), log(3), etc.) precisely!
And that actually is why they are called irrational. No amount of bit storage in the world would be enough to hold even one of them. Only symbolic arithmetic is able to preserve their precision.
Although if you would limit your math needs to rational numbers only the problem of precision becomes manageable. You would need to store a pair of (possibly very big) integers a and b to hold the number represented by the fraction a/b. All your arithmetic would have to be done on fractions just like in highschool math (e.g. a/b * c/d = ac/bd).
But of course you would still run into the same kind of trouble when pi, sqrt, log, sin, etc. are involved.
TL;DR
For hardware accelerated arithmetic only a limited amount of rational numbers can be represented. Every not-representable number is approximated. Some numbers (i.e. irrational) can never be represented no matter the system.

There are infinitely many real numbers (so many that you can't enumerate them), and there are infinitely many rational numbers (it is possible to enumerate them).
The floating-point representation is a finite one (like anything in a computer) so unavoidably many many many numbers are impossible to represent. In particular, 64 bits only allow you to distinguish among only 18,446,744,073,709,551,616 different values (which is nothing compared to infinity). With the standard convention, 9.2 is not one of them. Those that can are of the form m.2^e for some integers m and e.
You might come up with a different numeration system, 10 based for instance, where 9.2 would have an exact representation. But other numbers, say 1/3, would still be impossible to represent.
Also note that double-precision floating-points numbers are extremely accurate. They can represent any number in a very wide range with as much as 15 exact digits. For daily life computations, 4 or 5 digits are more than enough. You will never really need those 15, unless you want to count every millisecond of your lifetime.

Why can we not represent 9.2 in binary floating point?
Floating point numbers are (simplifying slightly) a positional numbering system with a restricted number of digits and a movable radix point.
A fraction can only be expressed exactly using a finite number of digits in a positional numbering system if the prime factors of the denominator (when the fraction is expressed in it's lowest terms) are factors of the base.
The prime factors of 10 are 5 and 2, so in base 10 we can represent any fraction of the form a/(2b5c).
On the other hand the only prime factor of 2 is 2, so in base 2 we can only represent fractions of the form a/(2b)
Why do computers use this representation?
Because it's a simple format to work with and it is sufficiently accurate for most purposes. Basically the same reason scientists use "scientific notation" and round their results to a reasonable number of digits at each step.
It would certainly be possible to define a fraction format, with (for example) a 32-bit numerator and a 32-bit denominator. It would be able to represent numbers that IEEE double precision floating point could not, but equally there would be many numbers that can be represented in double precision floating point that could not be represented in such a fixed-size fraction format.
However the big problem is that such a format is a pain to do calculations on. For two reasons.
If you want to have exactly one representation of each number then after each calculation you need to reduce the fraction to it's lowest terms. That means that for every operation you basically need to do a greatest common divisor calculation.
If after your calculation you end up with an unrepresentable result because the numerator or denominator you need to find the closest representable result. This is non-trivil.
Some Languages do offer fraction types, but usually they do it in combination with arbitary precision, this avoids needing to worry about approximating fractions but it creates it's own problem, when a number passes through a large number of calculation steps the size of the denominator and hence the storage needed for the fraction can explode.
Some languages also offer decimal floating point types, these are mainly used in scenarios where it is imporant that the results the computer gets match pre-existing rounding rules that were written with humans in mind (chiefly financial calculations). These are slightly more difficult to work with than binary floating point, but the biggest problem is that most computers don't offer hardware support for them.

Converting double value of 1234567.1234 to float in java

I am trying to convert double to float in java.
Double d = 1234567.1234;
Float f = d.floatValue();
I see that the value of f is
1234567.1
I am not trying to print a string value of float. I just wonder what is the maximum number of digits not to lose any precision when converting double to float. Can i show more than 8 significant digits in java?

float: 32 bits (4 bytes) where 23 bits are used for the mantissa (6 to 9 decimal digits, about 7 on average). 8 bits are used for the exponent, so a float can “move” the decimal point to the right or to the left using those 8 bits. Doing so avoids storing lots of zeros in the mantissa as in 0.0000003 (3 × 10-7) or 3000000 (3 × 107). There is 1 bit used as the sign bit.
double: 64 bits (8 bytes) where 52 bits are used for the mantissa (15 to 17 decimal digits, about 16 on average). 11 bits are used for the exponent and 1 bit is the sign bit.
I believe you hit this limit what cause that problem.
If you change
Double d = 123456789.1234;
Float f = d.floatValue();
You will see that float value will be 1.23456792E8

The precision of a float is about 7 decimals, but since floats are stored in binary, that's an approximation.
To illustrate the actual precision of the float value in question, try this:
double d = 1234567.1234;
float f = (float)d;
System.out.printf("%.9f%n", d);
System.out.printf("%.9f%n", Math.nextDown(f));
System.out.printf("%.9f%n", f);
System.out.printf("%.9f%n", Math.nextUp(f));
Output
1234567.123400000
1234567.000000000
1234567.125000000
1234567.250000000
As you can see, the effective decimal precision is about 1 decimal place for this number, or 8 digits, but if you ran the code with the number 9876543.9876, you get:
9876543.987600000
9876543.000000000
9876544.000000000
9876545.000000000
That's only 7 digits of precision.

This is a simple example in support of the view that there is no safe number of decimal digits.
Consider 0.1.
The closest IEEE 754 64-bit binary floating point number has exact value 0.1000000000000000055511151231257827021181583404541015625. It converts to 32-bit binary floating point as 0.100000001490116119384765625, which is considerably further from 0.1.
There can be loss of precision with even a single significant digit and single decimal place.
Unless you really need the compactness of float, and have very relaxed precision requirements, it is generally better to just stick with double.

I just wonder what is the maximum number of digits not to lose any precision when converting double to float.
Maybe you don't realize it, but the concept of N digits precisions is already ambigous. Doubtlessly you meant "N digits precision in base 10". But unlike humans, our computers work with Base 2.
Its not possible to convert every number from Base X to Base Y (with a limited amount of retained digits) without loss of precision, e.g. the value of 1/3rd is perfectly accurately representable in Base 3 as "0.1". In Base 10 it has an infinite number of digits 0.3333333333333... Likewise, commonly perfectly representable numbers in Base 10, e.g. 0.1 need an infinite number of digits to be represented in Base 2. On the other hand, 0.5 (Base 10) is peferectly accurately representable as 0.1 (Base 2).
So back to
I just wonder what is the maximum number of digits not to lose any precision when converting double to float.
The answer is "it depends on the value". The commonly cited rule of thumb "float has about 6 to 7 digits decimal precision" is just an approximation. It can be much more or much less depending on the value.
When dealing with floating point the concept of relative accuracy is more useful, stop thinking about "digits" and replace it with relative error. Any number N (in range) is representable with an error of (at most) N / accuracy, and the accuracy is the number of mantissa bits in the chosen format (e.g. 23 (+1) for float, 52 (+1) for double). So a decimal number represented as a float is has a maximum approximation error of N / pow(2, 24). The error may be less, even zero, but it is never greater.
The 23+1 comes from the convention that floating point numbers are organized with the exponent chosen such that the first mantissa bit is always a 1 (whenever possible), so it doesn't need to be explicitly stored. The number of physically stored bits, e.g. 23 thus allows for one extra bit of accuracy. (There is an exceptional case where "whenever possible" does not apply, but lets ignore that here).
TL;DR: There is no fixed number of decimal digits accuracy in float or double.

EDIT.
No you cannot get any more precise with a float in Java because floats can only contain 32 bits ( 4 bytes). If you want more precision, then continue to use the Double. This might also be helpful

Why java calculate dividing a decimal by int like this? [duplicate]

Locked. This question and its answers are locked because the question is off-topic but has historical significance. It is not currently accepting new answers or interactions.
How do you explain floating point inaccuracy to fresh programmers and laymen who still think computers are infinitely wise and accurate?
Do you have a favourite example or anecdote which seems to get the idea across much better than an precise, but dry, explanation?
How is this taught in Computer Science classes?

There are basically two major pitfalls people stumble in with floating-point numbers.
The problem of scale. Each FP number has an exponent which determines the overall “scale” of the number so you can represent either really small values or really larges ones, though the number of digits you can devote for that is limited. Adding two numbers of different scale will sometimes result in the smaller one being “eaten” since there is no way to fit it into the larger scale.
PS> $a = 1; $b = 0.0000000000000000000000001
PS> Write-Host a=$a b=$b
a=1 b=1E-25
PS> $a + $b
1
As an analogy for this case you could picture a large swimming pool and a teaspoon of water. Both are of very different sizes, but individually you can easily grasp how much they roughly are. Pouring the teaspoon into the swimming pool, however, will leave you still with roughly a swimming pool full of water.
(If the people learning this have trouble with exponential notation, one can also use the values 1 and 100000000000000000000 or so.)
Then there is the problem of binary vs. decimal representation. A number like 0.1 can't be represented exactly with a limited amount of binary digits. Some languages mask this, though:
PS> "{0:N50}" -f 0.1
0.10000000000000000000000000000000000000000000000000
But you can “amplify” the representation error by repeatedly adding the numbers together:
PS> $sum = 0; for ($i = 0; $i -lt 100; $i++) { $sum += 0.1 }; $sum
9,99999999999998
I can't think of a nice analogy to properly explain this, though. It's basically the same problem why you can represent 1/3 only approximately in decimal because to get the exact value you need to repeat the 3 indefinitely at the end of the decimal fraction.
Similarly, binary fractions are good for representing halves, quarters, eighths, etc. but things like a tenth will yield an infinitely repeating stream of binary digits.
Then there is another problem, though most people don't stumble into that, unless they're doing huge amounts of numerical stuff. But then, those already know about the problem. Since many floating-point numbers are merely approximations of the exact value this means that for a given approximation f of a real number r there can be infinitely many more real numbers r1, r2, ... which map to exactly the same approximation. Those numbers lie in a certain interval. Let's say that rmin is the minimum possible value of r that results in f and rmax the maximum possible value of r for which this holds, then you got an interval [rmin, rmax] where any number in that interval can be your actual number r.
Now, if you perform calculations on that number—adding, subtracting, multiplying, etc.—you lose precision. Every number is just an approximation, therefore you're actually performing calculations with intervals. The result is an interval too and the approximation error only ever gets larger, thereby widening the interval. You may get back a single number from that calculation. But that's merely one number from the interval of possible results, taking into account precision of your original operands and the precision loss due to the calculation.
That sort of thing is called Interval arithmetic and at least for me it was part of our math course at the university.

Show them that the base-10 system suffers from exactly the same problem.
Try to represent 1/3 as a decimal representation in base 10. You won't be able to do it exactly.
So if you write "0.3333", you will have a reasonably exact representation for many use cases.
But if you move that back to a fraction, you will get "3333/10000", which is not the same as "1/3".
Other fractions, such as 1/2 can easily be represented by a finite decimal representation in base-10: "0.5"
Now base-2 and base-10 suffer from essentially the same problem: both have some numbers that they can't represent exactly.
While base-10 has no problem representing 1/10 as "0.1" in base-2 you'd need an infinite representation starting with "0.000110011..".

How's this for an explantation to the layman. One way computers represent numbers is by counting discrete units. These are digital computers. For whole numbers, those without a fractional part, modern digital computers count powers of two: 1, 2, 4, 8. ,,, Place value, binary digits, blah , blah, blah. For fractions, digital computers count inverse powers of two: 1/2, 1/4, 1/8, ... The problem is that many numbers can't be represented by a sum of a finite number of those inverse powers. Using more place values (more bits) will increase the precision of the representation of those 'problem' numbers, but never get it exactly because it only has a limited number of bits. Some numbers can't be represented with an infinite number of bits.
Snooze...
OK, you want to measure the volume of water in a container, and you only have 3 measuring cups: full cup, half cup, and quarter cup. After counting the last full cup, let's say there is one third of a cup remaining. Yet you can't measure that because it doesn't exactly fill any combination of available cups. It doesn't fill the half cup, and the overflow from the quarter cup is too small to fill anything. So you have an error - the difference between 1/3 and 1/4. This error is compounded when you combine it with errors from other measurements.

In python:
>>> 1.0 / 10
0.10000000000000001
Explain how some fractions cannot be represented precisely in binary. Just like some fractions (like 1/3) cannot be represented precisely in base 10.

Another example, in C
printf (" %.20f \n", 3.6);
incredibly gives
3.60000000000000008882

Here is my simple understanding.
Problem:
The value 0.45 cannot be accurately be represented by a float and is rounded up to 0.450000018. Why is that?
Answer:
An int value of 45 is represented by the binary value 101101.
In order to make the value 0.45 it would be accurate if it you could take 45 x 10^-2 (= 45 / 10^2.)
But that’s impossible because you must use the base 2 instead of 10.
So the closest to 10^2 = 100 would be 128 = 2^7. The total number of bits you need is 9 : 6 for the value 45 (101101) + 3 bits for the value 7 (111).
Then the value 45 x 2^-7 = 0.3515625. Now you have a serious inaccuracy problem. 0.3515625 is not nearly close to 0.45.
How do we improve this inaccuracy? Well we could change the value 45 and 7 to something else.
How about 460 x 2^-10 = 0.44921875. You are now using 9 bits for 460 and 4 bits for 10. Then it’s a bit closer but still not that close. However if your initial desired value was 0.44921875 then you would get an exact match with no approximation.
So the formula for your value would be X = A x 2^B. Where A and B are integer values positive or negative.
Obviously the higher the numbers can be the higher would your accuracy become however as you know the number of bits to represent the values A and B are limited. For float you have a total number of 32. Double has 64 and Decimal has 128.

A cute piece of numerical weirdness may be observed if one converts 9999999.4999999999 to a float and back to a double. The result is reported as 10000000, even though that value is obviously closer to 9999999, and even though 9999999.499999999 correctly rounds to 9999999.

Are there limits of precision on the memory capacity of double?

I'm reading an introductory book on Java and ran into something I don't quite understand. In covering variable types, the author states "the word double stands for numbers between
This struck me as odd, since as written, it would include all numbers on the real number line between the two aforementioned limits.
From my understanding, double is a primitive data type assigned 64 bits of memory. In turn, it's clear to me that 5.9 is a perfectly fine double, or float for that matter. However, I'm not sure how the series
i.e., 5.9, 5.99, 5.999, 5.9999, ... would fit in memory as k approaches infinity.
Is my intuition correct that not all real numbers between the author's two limits would be appropriately held in memory as a double?

Is my intuition that not all real numbers between the author's two limits would be appropriately held in memory as a double?
Yes, you are right.
Even the MOST obvious "doubles" cannot be stored correctly. For instance 0.1 is "1/10" - have you ever divided by ten in a base-2 system? That's an infinite number (comparable to "/3" in the base 10 system)
(This fact btw was responsible for the Patriot-Bug: http://sydney.edu.au/engineering/it/~alum/patriot_bug.html)
And therefore even some obvious easy maths will go wrong on java:
Take the compiler of your choice and try this:
System.out.println(0.8 == (0.1 + 0.7));
Whoops, it will output false.

Indeed. In one sentence, ints are exact, while floats and doubles are stored using scientific notation notated in bits. This means that there will be a roundoff error, as scientific notation goes.
As per wikipedia:
Sign bit: 1 bit
Exponent width: 11 bits
Significand precision: 53 bits (52 explicitly stored)
An interesting note: the exponent has 1 bit storing its sign also!
To read more:
Wikipedia - Double precision floating point format

The double data type is a double-precision 64-bit(8 bytes) IEEE-754 floating point.The format consists of 1-bit for sign, 11-bits for exponent and the remaining 52 bits of the significand represent the fraction part. With the 52 bits of the fraction significand appearing in the memory format, the total precision is therefore 53 bits (approximately 16 decimal digits, 53 log10(2) ≈ 15.955). The 11 bit width of the exponent allows the representation of numbers with a decimal exponent between 10E−308 and 10E+308, with full 15–17 decimal digits precision. Double and float are not exactly real numbers.There can be infinite number of real numbers in any range, but it should always be kept in mind that there are only finite number of bits to represent them and hence not all numbers could be represented.
For higher and better precision, you can use BigDecimal class found in the java.math package.
http://docs.oracle.com/javase/7/docs/api/java/math/BigDecimal.html

Can 12.1 be represented exactly as a floating point number?

This is in reference to the comments in this question:
This code in Java produces 12.100000000000001 and this is using 64-bit doubles which can present 12.1 exactly. – Pyrolistical
Is this true? I felt that since a floating point number is represented as a sum of powers of two, you cannot represent 12.1 exactly, no matter how many bits you have. However, when I implemented both the algorithms and printed the results of calling them with (12.1, 3) with many significant digits, I get, for his and mine respectively:
12.10000000000000000000000000000000000000000000000000000000000000000000000000
12.10000000000000100000000000000000000000000000000000000000000000000000000000
I printed this using String.format("%76f"). I know that's more zeros than necessary, but I don't see any rounding in the 12.1 .

No. As others noted in followups to his comment, no sum of (a finite number of) powers of two can ever add up to exactly 12.1. Just like you can't represent 1/3 exactly in base ten, no matter how many digits you use after the decimal point.

In binary, 12.1 is:
1100.000110011001100110011...
Since this doesn't terminate, it can't be represented exactly in the 53 significand bits of a double, or any other finite-width binary floating-point type.

Try to express 0.1 in binary:
0.5 is too big
0.25 is too big
0.125 is too big
0.0625 fits, and leaves a remainder of 0.0375
0.03125 fits, and leaves a remainder of 0.00625
0.015625 is too big
0.0078125 is too big
0.00390625 fits, and leaves a remainder of 0.00234375
0.001953125 fits, and leaves a remainder of 0.000390625
It's going to keep repeating indefinitely, creating a base 2 value of 0.00011001100...
No, it can't be expressed exactly in a double. If Java supports BCD, or fixed point decimal, that would work exactly.

Not in binary, no. If you'll allow me to be fanciful, you could in "floating point binary coded decimal" (which, to the best of my knowledge, has never been implemented):
12.1 = 0000 . 0001 0010 0001 * (10^2)
In binary all non-zero values are of the form 1.xyz * m, and IEEE form takes advantage of this to omit the leading 1. I'm not sure what the equivalent is for FP-BCD, so I've gone for values of the form 0.xyz * m instead.

I suggest reading What Every Computer Scientist Should Know About Floating Point Arithmetic. Then you'll know for sure. :)

A way to see what the double is fairly exactly is to convert it to BigDecimal.
// prints 12.0999999999999996447286321199499070644378662109375
System.out.println(new BigDecimal(12.1));

Yes, you can exactly represent 12.1 in floating point.
You merely need a decimal floating point representation, not a binary one.
Use the BigDecimal type, and you'll represent it exactly!

No, the decimal number 12.1 cannot be represented as a finite (terminating) binary floating-point number.
Remember that 12.1 is the rational number 121/10. Note that this fraction is in lowest terms (cannot be reduced by removing common fators of the numerator an denominator).
Suppose (in order to reach a contradiction) that 121/10 could be written also as n / (2**k) where n and k are some positive integers, and 2**k denotes the kth power of two. We would have a counter-example to unique factorization. In particular
10 * n == 2**k * 121
where the left-hand side is divisible by 5 which the right-hand side is not.

One option that you can use is to not store v=0.1, but instead store v10=1. Just divide by 10 when needed ( the division will create truncation error in your result but v will still be OK )
In this case you're basically doing a fixed point hack, but keeping the number in a float.
But its usually not worth doing this unless you really have to.