40/88 as a percentage is 45.45%. This is the rounded value you get when you compare the fraction to a whole. It tells you that the part represented by 40 out of 88 is just under half of the total.
The fraction 40/88 can be reduced to 10/22, and further to 5/11, which is a common simple form. Seeing the percentage helps you quickly understand how big that part is without doing the division each time.
In everyday use, you might see this percentage on a test score, a discount, or a statistic. Knowing that 45.45% means a little less than half makes it easy to compare with other numbers or percentages you encounter.