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 a 1/99 ratio. Or if you're dealing with very precise measurements in science or engineering, you might need to consider changes as small as 1.01% of the total. While it may seem insignificant, even small percentages like this can be important in certain contexts.
