The fraction 23/54 is equal to 42.59% when converted to a percentage. This means that if you had 54 items and selected 23 of them, you'd have chosen about 42.59% of the total. It's a bit less than half, but more than two-fifths of the whole.
In everyday situations, you might come across this fraction or percentage in various contexts. For example, if 23 out of 54 students in a class passed a test, you could say that 42.59% of the class succeeded. Or if a sale offers 23/54 off the original price, you'd be getting a discount of about 42.59%. It's always helpful to understand these equivalents to make quick estimates in daily life.