123/123 = 100%
The fraction 123/123 represents a complete amount, so it equals 100%. You might see a value like this when every student turns in an assignment, every item in an order is delivered, or a phone battery is fully charged.
To picture it quickly, imagine a whole pizza with all its slices still present, or a progress bar filled from beginning to end. Since the top and bottom numbers are the same, you can recognize right away that the fraction stands for one complete whole.
A common mistake is thinking that the large numbers make the value greater than 100%. The numbers show how many parts there are, but because all 123 parts are included, the fraction still represents exactly one whole.