1/50 = 2%
A 2% value can show up as a small fee, discount, or yearly interest rate. For example, a store might offer a 2% discount on an item, which would make only a small difference to its price.
To picture it quickly, imagine a grid of 100 equal squares with just 2 shaded. You can also think of it as about 1 out of every 50 items, which helps when making a quick estimate.
One common point of confusion is forgetting what the percentage applies to. A 2% fee on a $10 purchase is much smaller than a 2% fee on a $1,000 purchase, even though the rate is the same.
