The fraction "1/100" represents one part out of a total of one hundred equal parts. It is often used to express percentages, where "1/100" is equivalent to 1%. This means that if you have 100 items, 1/100 of them would be just one item. In practical terms, "1/100" can be seen in various contexts, such as in finance, where it might represent a small interest rate, or in measurements, like a scale where 1 unit represents 1% of the total. Understanding this fraction helps in grasping concepts related to percentages, ratios, and proportions.