The fraction 2/56 is equal to 3.57% when converted to a percentage and rounded to two decimal places. This small percentage represents a tiny portion of a whole, less than 4%. To visualize it, imagine a large pizza cut into 56 slices - 2/56 would be just 2 of those slices.
In everyday life, you might encounter percentages like this when dealing with things like interest rates on savings accounts or small discounts on purchases. While 3.57% may seem insignificant, it can add up over time or when applied to large numbers. For example, 3.57% of a million dollars is still $35,700, which is a substantial amount of money.
