74/94 as a percentage is 78.72%. This number tells you how much of a whole the fraction represents when you look at it in terms of hundredths.
The fraction 74/94 can be reduced to 37/47, which is still the same value. Whether you write it as a fraction or as a percentage, the amount stays the same—it just looks different depending on the format you need.
In real life you might see this percentage when comparing test scores, measuring parts of a budget, or looking at how much of a recipe is used. Knowing that 74 out of 94 is about 78.72% makes it easy to understand the size of the portion at a glance.