The fraction 48/49 is equal to 97.96% when converted to a percentage and rounded to two decimal places. This means that 48/49 represents a value very close to, but slightly less than, 100%. It's a high percentage that indicates nearly the whole of something, with just a tiny bit missing.
In practical terms, 48/49 or 97.96% could be used to describe situations where something is almost complete or nearly perfect. For example, if a student answered 48 out of 49 questions correctly on a test, they would have scored 97.96%. This would be considered an excellent result, showing that the student has a very strong understanding of the subject matter, with only a small room for improvement.