Alternate way of solving a quant problem GREG discussed in a ratio, percent class

GRE Quant Problem Solving
1

Okay, so Greg solved a GMAT question, where one is asked to find the thousandths digit of the fraction 53/5000 . Is the following way of solving this alright?

(53/5) * (1/1000) = (10.6 ) (1/1000) = 0.0106 so the thousandths digit is 0.

Is this also a good approach?

2

Yes, this approach is correct as well. You are simply first doing the product and then the division, so you are respecting the order of operations.