40/45 as a percentage is 88.89%. This is the rounded value you get when you turn the fraction into a percent with two decimal places. It tells you how close the fraction is to a whole number of 100.
The fraction 40/45 can be reduced to 8/9, which is a common way to see the same value in a simpler form. Whether you write it as 8/9 or 40/45, the percentage stays the same.
Knowing the percent makes it easy to compare this number to others, like grades or discounts. An 88.89% score is just a little under a perfect 90%, so it’s a strong performance in most everyday situations.