132/120 = 110%
A value like 132/120 can show up when something goes beyond its original target or amount. For example, a project finished 132% of its planned work, or a store sells 110% of its expected number of items; in this case, the fraction represents 110%.
To picture it quickly, think of 120 as one full group and 132 as that full group plus 12 extra. Since 12 is one-tenth of 120, the value is a little more than one whole, or about 1.1 times the original amount.
A common point of confusion is thinking that a percentage over 100% must be wrong. It simply means the amount is greater than the reference value, while a fraction greater than one communicates the same idea in a different form.
