The fraction 31/67 is equal to 46.27% when converted to a percentage and rounded to two decimal places. This means that if you were to divide something into 67 equal parts and take 31 of those parts, you'd have about 46.27% of the whole. It's a bit less than half, but pretty close.
In everyday situations, you might come across this fraction or percentage when dealing with things like test scores, survey results, or even cooking measurements. For example, if 31 out of 67 people in a group liked a new flavor of ice cream, you could say that 46.27% of the group enjoyed it. While it's not a common fraction you'd use daily, understanding how it relates to its percentage equivalent can be helpful in various contexts.