The fraction 21/24 is equal to 87.50% when converted to a percentage and rounded to the nearest two decimal places. This percentage represents how much of a whole the fraction represents. In other words, if you had 24 equal parts of something and took 21 of those parts, you'd have 87.50% of the whole.
To visualize this, imagine a pizza cut into 24 slices. If you ate 21 of those slices, you'd have consumed 87.50% of the entire pizza. This fraction and percentage are commonly used in various fields, such as mathematics, statistics, and everyday calculations where parts of a whole need to be expressed.