The fraction 42/48 is equal to 87.50% when converted to a percentage and rounded to two decimal places. This percentage represents how much of the whole (48) is taken up by the part (42). It's a way to express the fraction as parts per hundred.
In everyday situations, you might encounter this fraction or percentage in various contexts. For example, if 42 out of 48 students in a class passed a test, you could say that 87.50% of the class succeeded. This percentage gives a quick and easy-to-understand measure of how well the class performed overall, without needing to know the total number of students.