1. The problem is to divide 7.23 by 0.03. 2. The formula for division is $ \frac{a}{b} $, where $a$ is the dividend and $b$ is the divisor. 3. To simplify division with decimals, multiply numerator and denominator by the same power of 10 to make the divisor a whole number. 4. Multiply numerator and denominator by 100 (since 0.03 has two decimal places): $$\frac{7.23}{0.03} = \frac{7.23 \times 100}{0.03 \times 100} = \frac{723}{3}$$ 5. Now divide 723 by 3: $$\frac{\cancel{723}}{\cancel{3}} = 241$$ 6. So, the final answer is $241$.