The fraction 1/31 is equal to 3.23% when expressed as a percentage (rounded to two decimal places). This small percentage represents just over 3 parts out of 100, or about 1 part out of every 31. It's a relatively low value that you might encounter in various real-world situations.
For example, if you had a group of 31 people and needed to select one at random, each person would have a 1/31 chance of being chosen. Similarly, if you were looking at sales data and found that 1 out of every 31 customers made a purchase, you could say that the conversion rate was 3.23%. This fraction and its percentage equivalent can be useful in understanding probabilities, statistics, and proportions in everyday scenarios.
