What is 70/76 as a percentage? It is 92.11%. This number shows that the fraction is very close to a whole.
The fraction 70/76 can be reduced to 35/38, but even in its original form it represents a large part of a whole. When you think of it as a part of 100, it almost reaches the full 100%.
Seeing it as 92.11% makes it easy to compare with other percentages, like test scores or discount rates. It tells you that 70 out of 76 is just a little short of the whole amount.