1. **State the problem:** Solve the equation $7.23$. 2. **Interpretation:** Since $7.23$ is a number and not an equation, we assume the problem is to understand or simplify the number $7.23$. 3. **Explanation:** $7.23$ is a decimal number representing seven units and twenty-three hundredths. 4. **Conversion to fraction:** To convert $7.23$ to a fraction, write it as $\frac{723}{100}$. 5. **Simplify the fraction:** Find the greatest common divisor (GCD) of $723$ and $100$. 6. Since $723$ and $100$ share no common factors other than $1$, the fraction $\frac{723}{100}$ is already in simplest form. 7. **Final answer:** $7.23 = \frac{723}{100}$ or as a decimal, it remains $7.23$.