To format a number using fixed-point notation, you can simply use the toFixed method:

(10.8).toFixed(2); // "10.80"

var num = 2.4;
alert(num.toFixed(2)); // "2.40"

Note that toFixed() returns a string.

IMPORTANT: Note that toFixed does not round 90% of the time, it will return the rounded value, but for many cases, it doesn’t work.

For instance:

2.005.toFixed(2) === "2.00"

UPDATE:

Nowadays, you can use the Intl.NumberFormat constructor. It’s part of the ECMAScript Internationalization API Specification (ECMA402). It has pretty good browser support, including even IE11, and it is fully supported in Node.js.

const formatter = new Intl.NumberFormat('en-US', {
   minimumFractionDigits: 2,      
   maximumFractionDigits: 2,
});

console.log(formatter.format(2.005)); // "2.01"
console.log(formatter.format(1.345)); // "1.35"

You can alternatively use the toLocaleString method, which internally will use the Intl API:

const format = (num, decimals) => num.toLocaleString('en-US', {
   minimumFractionDigits: 2,      
   maximumFractionDigits: 2,
});


console.log(format(2.005)); // "2.01"
console.log(format(1.345)); // "1.35"

This API also provides you a wide variety of options to format, like thousand separators, currency symbols, etc.