46/92 = 50%
A fraction like 46/92 shows up when 46 out of 92 people choose a certain option, such as half the students voting for a school event. It can also describe a team winning 46 of 92 games, which is 50%.
You can picture 46/92 as exactly half of one whole, like shading one of two equal parts of a shape. A quick estimate is to notice that 46 is half of 92, so the fraction is right around 50%.
A common point of confusion is thinking that larger numbers always mean a larger fraction. Even though 46 and 92 may look big, 46/92 has the same value as any fraction that represents one-half.