The fraction 15/31 is equal to 48.39% when converted to a percentage and rounded to two decimal places. This means that if you had 31 items and took 15 of them, you'd have about 48.39% of the total. It's a bit less than half, which would be 50%.
In everyday situations, you might come across this fraction or percentage when dealing with things like test scores, sales discounts, or even cooking measurements. For example, if a recipe calls for 15/31 of a cup of flour, you could think of it as using just under half a cup. While it's not a common fraction you'd see often, understanding its percentage equivalent can help put it into perspective.