A measurement that has been rounded is not exact. A length given as 7 cm to the nearest centimetre could be anything from 6.5 cm up to 7.5 cm. The smallest possible value is the lower bound and the largest is the upper bound.
To find the bounds, take half of the unit the value was rounded to. Subtract it for the lower bound and add it for the upper bound.
When rounded values are used in a calculation, the answer also has bounds. To make an answer as large as possible, choose the bounds that help: for a subtraction or a division this means the largest first number and the smallest second number.