47/86 as a percentage is 54.65%. This value tells you how much of a whole the fraction represents when you look at it in terms of 100 parts.
The fraction 47/86 is a little more than half. If you picture 86 equal pieces of something, 47 of those pieces would be taken, leaving 39 pieces behind.
In everyday life, percentages like 54.65% are useful for quickly comparing amounts. For example, if you scored 47 points out of a possible 86 on a test, you earned 54.65% of the total points.
Remember that rounding to two decimal places keeps the number easy to read while still being fairly accurate.