Meaning of 1% precision

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Suppose I calculated the numerical value of $ln(1.1)$ using Taylor expansion of $ln(1+x)$ and got $0.095333.....$, by expanding up to the fourth term. Now if somebody asks me to write the answer with a 1% precision, what does it mean? Does it mean $1\% = 0.01$, so round it to 2 decimal place or up to how many terms I expand as here I have expanded till third derivative or something else?