It can be used 3 times because MMM = 3000, (IV) = 4000 and (V) = 5000
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Yes, roman numerals were used in medieval times.
Basically they are used to dignify and differentiate. For example, the cornerstone of a building many times has Roman numerals, the names of royalty have Roman numerals, such as Elizabeth II, some watches and clocks, especially grandfather clocks, many times Roman numerals are used in the introduction to books to differentiate them from the standard page numbers.
the roman numerals L,X,M,C,I,D ARE the roman numerals that can be used only 3 times
P is not used in Roman numerals.
Roman numerals were used for writing numbers in ancient rome.