[snip]
  Actually i have created the field type as varchar..i am need to insert
some decimal values in that varchar field and use that values for
calculation...so it is possible to store the float value eventhough i
specified as varchar ?..and also i can use that values for calculation
??
[/snip]

This is more of a SQL question, but the short answer (with PHP) is yes,
you can use 'values' stored in varchar fields for calculation in PHP.
You may have to retrieve the value from the DB and then cast it to your
liking. See http://www.php.net/settype (it may be set_type, I am working
on less than one cup of coffee this morning thus far.

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