55/75 as a percentage is 73.33%. This number tells you how much of a whole 55 parts out of 75 represent when you look at it on a scale of 100.
The fraction 55/75 can be reduced to 11/15, which still gives the same percentage. Whether you write it as a fraction, a decimal, or a percent, the value stays the same.
Knowing the percent makes it easy to compare with other numbers, like test scores or discounts, because most people think in terms of 100. So whenever you see 55 out of 75, you can quickly think of it as about 73.33% of the total.