print("%.2f" % total)

[Cai Gengyang]

meal = 44.50
tax = 0.0675
tip = 0.15

meal = meal + meal * tax
total = meal + meal * tip

print("%.2f" % total)   

What do the lines inside the parentheses in this statement print("%.2f" % total) mean ? 

What does "%.2f" % total represent ?

Thanks alot ...

Gengyang