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No.
nothing since they both are one.
Without a decimal point, they are both the same. If you asked "Which is less .01 or .001", then .001 is the smaller number.
.001 is greater than .0000787
.1 tenth .01 hundredth .001 thousandth .0001 ten-thousandth .00001 hundred- thousandth .000001 millionth so on and so forth