The fraction 23/48 is equal to 47.92% when converted to a percentage and rounded to two decimal places. This means that if you had 48 equal parts of something and took 23 of those parts, you'd have about 47.92% of the whole. It's a bit less than half, but pretty close.
In everyday life, you might see this fraction or percentage used in various situations. For example, if 23 out of 48 students in a class passed a test, you could say that 47.92% of the class passed. Or if you completed 23 out of 48 tasks on your to-do list, you'd be 47.92% done with your list. It's a handy way to express parts of a whole in a more easily understood format.
