The fraction 1/99 is equal to 1.01% when converted to a percentage and rounded to the nearest two decimal places. This small percentage represents just over one one-hundredth of a whole. It's a tiny slice of the pie, barely more than 1%.
In everyday life, you might encounter 1/99 or 1.01% in various situations. For example, if you're looking at sales data and see that 1 out of 99 customers bought a certain product, that's this fraction at work. Or if you're dealing with a very small probability in statistics, it might be expressed as 1.01%. While it's not a common percentage to come across, understanding these small fractions can be useful in certain fields like finance, science, or data analysis.
