Hi mahesh213,
You need to convert the number to decimal value before applying the string.Format.
C#
string number = "1234.56";
var num = string.Format("{0:#,0.00}", Convert.ToDecimal(number)); // 1,234.5at
VB.Net
Dim number As String = "1234.56"
Dim num = String.Format("{0:#,0.00}", Convert.ToDecimal(number))
Output
1,234.56