The fraction "1/50" represents one part out of a total of fifty equal parts. It is a way to express a ratio or a division of a whole into smaller sections. For example, if you have 50 apples and take 1, you have taken 1/50 of the total apples. In decimal form, "1/50" is equal to 0.02. This means that if you were to divide something into 50 equal pieces, each piece would be 2% of the whole. This concept is often used in mathematics, finance, and statistics to represent small portions of a larger quantity.