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 small portion, less than one-thirtieth of a whole.
In everyday life, you might encounter 1/31 or 3.23% in various situations. For example, it could represent the chance of an unlikely event happening, a small discount on a purchase, or a tiny slice of a pie chart. While it may seem insignificant, even small percentages can add up over time or when dealing with large numbers.
