31/99 as a percentage is 31.31%. This is the rounded value you get when you express the fraction as a part of a hundred.
The fraction 31/99 is a little more than one‑third, since 33/99 would be exactly 33.33%. It is a proper fraction, meaning the numerator is smaller than the denominator, and it can be reduced no further because 31 and 99 share no common factors besides 1.
In everyday situations, you might see this percentage used to describe a small share of a whole—like 31.31% of a class of 99 students. Remember that the figure is rounded to two decimal places, so the exact decimal is a bit longer, but 31.31% is precise enough for most practical purposes.