Calculate Decimal Product: 0.01 × 0.101 Step-by-Step

To solve the multiplication of $0.01 \times 0.101$, follow these steps:

• Step 1: Consider both numbers without decimals as whole numbers. Here, interpret $0.01$ as $1$ and $0.101$ as $101$.
• Step 2: Multiply these whole numbers: $1 \times 101 = 101$.
• Step 3: Count the number of decimal places in each factor. For $0.01$, there are 2 decimal places. For $0.101$, there are 3 decimal places, totaling $2 + 3 = 5$ decimal places in the product.
• Step 4: Insert a decimal point in the integer product of $101$ to give it 5 decimal places. Starting from the right of the number, move the decimal point 5 places to the left, yielding $0.00101$.

Thus, the correct answer is $\mathbf{0.00101}$, which corresponds to choice $\mathbf{3}$.