title: Difference between DECIMAL and NUMERIC datatype in PSQL
body: <p>what is the use of <code>decimal</code> and <code>numeric</code> datatype in postgreSQL. As per the reference the following is the explanation given to these datatypes. </p>
  
  <pre><code>Decimal,numeric --&gt; It is a user specified precision, exact and range up to 131072 digits before the decimal point and up to 16383 digits after the decimal point.
  </code></pre>
  
  <p>The above statement shows the description of <code>decimal</code> and <code>numeric</code> datatype. But, still I didn't understand what is the
      exact use of these data type and where it is used instead of other datatypes. </p>
  
  <p>Answer with example is much appreciated...</p>