Mysql: if condition not gives unexpected value for float value

My mysql query is like this

select if(brand_name="royal", b.multiplier, 1) as multiplier from brand;

my database have below record

brand_name = royal,
multiplier = 1.06 (type: float(5,2))

in result multiplier value should be 1.06 but it give value in result as : 1.0599999427795

Please can you tell me how I can resolve this issue ?