The fraction 31/40 is equal to 77.50% when converted to a percentage and rounded to the nearest two decimal places. This means that 31 out of 40 parts represent just over three-quarters of the whole. It's a fairly high percentage, showing that a significant portion is being represented.
In everyday situations, you might come across this fraction or percentage in various contexts. For example, if 31 out of 40 students passed a test, you could say that 77.50% of the class was successful. Similarly, if a basketball player made 31 out of 40 free throws, their free throw percentage would be 77.50%. This percentage is often considered good in many scenarios, as it's well above the halfway mark of 50%.