The fraction 27/38 is equal to 71.05% when converted to a percentage and rounded to two decimal places. This means that if you had 38 equal parts of something and took 27 of those parts, you'd have about 71% of the whole. It's a bit more than two-thirds but not quite three-quarters of the total.
In everyday situations, you might come across this fraction or percentage in various contexts. For example, if 27 out of 38 students in a class passed a test, you could say that 71.05% of the class succeeded. Or if a sale offers 27/38 off the original price, you'd be getting a discount of about 71%. Understanding these equivalents can be helpful for quick mental math and estimating in daily life.