The fraction 23/42 is equal to 54.76% when converted to a percentage and rounded to two decimal places. This means that if you had 42 equal parts of something and took 23 of those parts, you'd have about 54.76% of the whole. It's a bit more than half, but not quite as much as three-fifths.
In everyday situations, you might come across this fraction or percentage in various contexts. For example, if 23 out of 42 students in a class passed a test, you could say that 54.76% of the class succeeded. Or if you completed 23 pages of a 42-page book, you'd be 54.76% of the way through. This fraction and its percentage equivalent can be useful for understanding proportions and making quick estimates in daily life.