69/98 as a percentage is 70.41%. This is the rounded figure you get when you change the fraction to a percent with two decimal places.
The fraction 69/98 is just a way of showing that 69 parts are taken out of a total of 98 parts. When you look at it as a percent, it tells you that a little more than seven‑tenths of the whole is being considered.
Because the result is rounded to the nearest hundredth, you see 70.41% instead of a longer decimal. This makes it easier to read and compare with other percentages you might meet in everyday situations.