The fraction 31/72 is equal to 43.06% when converted to a percentage and rounded to two decimal places. This means that if you had 72 items and took 31 of them, you'd have about 43% of the total. It's a bit less than half, but more than a third.
In everyday life, you might see this fraction or percentage used in various situations. For example, if 31 out of 72 students in a class passed a test, you could say that 43.06% of the class succeeded. Or if a sale offers 31/72 off the original price, you'd be getting a discount of about 43%. Understanding these equivalents can help in quick mental math and decision-making in daily scenarios.