The fraction 32/86 is equal to 37.21% when converted to a percentage and rounded to two decimal places. This means that if you had 86 items and selected 32 of them, you'd have about 37% of the total. It's a bit more than one-third but less than half of the whole amount.
This percentage comes up in various real-world situations. For example, if 32 out of 86 students in a school passed a test, you could say the pass rate was 37.21%. Or if 32 out of 86 days in a period were rainy, you'd say it rained about 37% of the time. Understanding fractions and their percentage equivalents helps in making sense of data and statistics we encounter daily.