23/72 is equal to 31.94% when expressed as a percentage. This rounded figure gives a quick sense of how large the fraction is compared to a whole.
The fraction 23/72 can be reduced only by the common factor 1, so it stays as 23/72. It represents a little less than one third of a whole, because one third (24/72) would be 33.33%. Seeing it as 31.94% helps visualize the size without doing the division each time.
In everyday situations, you might use this percentage to compare parts of a budget, a recipe, or a test score. Knowing that 23 out of 72 items is about 31.94% makes it easy to communicate the proportion to others.