I am having a problem with precision of a double after performing some operations on a converted string to double.
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The "problem" here is simply that 34.38 cannot be exactly represented in double-precision floating point. You should read this article which describes why it's impossible to represent decimal values exactly in floating point.
If you were to examine "34.38 * 100" in hex (as per "format hex" in MATLAB for example), you'd see:
40aadc0000000001
Notice the final digit.