Source : Free On-Line Dictionary of Computing

fixed-point
     
         A number representation scheme where a number R
        is represented by an {integer} N such that R=N*B, where B is
        the (assumed) base of the representation.
     
        On computers with no {floating-point unit} fixed-point
        calculations can be significantly faster as all the operations
        are basically integer operations.  Apart from that,
        fixed-point representation has the advantage of having uniform
        density, i.e., the smallest resolvable difference of the
        representation is B throughout the representable range, in
        sharp contrast to {floating-point} representations.
     
        (1998-05-18)