The FLOAT and DOUBLE types represent approximate numeric data values. MySQL uses four bytes for single-precision values and eight bytes for double-precision values.
For FLOAT, the SQL standard permits an optional specification of the precision (but not the range of the exponent) in bits following the keyword FLOAT in parentheses; ; that is, FLOAT(p). MySQL also supports this optional precision specification, but the precision value in FLOAT(p) is used only to determine storage size. A precision from 0 to 23 results in a 4-byte single-precision FLOAT column. A precision from 24 to 53 results in an 8-byte double-precision DOUBLE column.
MySQL permits a nonstandard syntax: FLOAT(M,D) or REAL(M,D) or DOUBLE PRECISION(M,D). Here, (M,D) means than values can be stored with up to M digits in total, of which D digits may be after the decimal point. For example, a column defined as FLOAT(7,4) will look like -999.9999 when displayed. MySQL performs rounding when storing values, so if you insert 999.00009 into a FLOAT(7,4) column, the approximate result is 999.0001.
So - what this doesn't cover currently is how precise FLOAT and DOUBLE values are by default. If no (m,n) value is specified, what is the default m,n? Personally, I prefer to use DECIMAL(m,n) more because it isn't an estimate especially when dealing with financial information and not theory.
DOUBLE[(M,D)] [ZEROFILL] holds double-precision numeric values, pretty similar to FLOAT double-precision, except for its allowable range, which is -1.7976931348623157E+308 to -2.2250738585072014E-308, 0, and 2.2250738585072014E-308 to 1.7976931348623157E+308.
FLOAT[(M[,D])] [ZEROFILL] stores floating point numbers in the range of -3.402823466E+38 to -1.175494351E-38 and 1.175494351E-38 to 3.402823466E+38. If precision isn't specified, or <= 24, it's SINGLE precision, otherwise FLOAT is DOUBLE precision. When specified alone, precision can range from 0 to 53. If the scale is defined, too, precision may be up to 255, scale up to 253.